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Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 9th Nov
Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 9th Nov
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Gary Barnett, Martin Shah and Simmons & Simmons 9th Nov
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 9th Nov
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 9th Nov
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 9th Nov
Practice notes
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 9th Nov
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
A damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, it will be outside...
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9th Nov
Practice notes
The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
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Produced in partnership with Martin Shah 9th Nov
Practice notes
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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9th Nov
Practice notes
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Energy and environment content

Practice notes
Brexit impact11 pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal...
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Produced in partnership with Angus Evers of Shoosmiths 1st Dec
Practice notes
The Carbon Reduction Commitment Energy Efficiency Scheme (CRC) was a mandatory UK-wide trading scheme intended to incentivise large organisations to...
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1st Dec
Practice notes
Brexit impact11 pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal...
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Produced in partnership with Angus Evers of Shoosmiths 30th Nov
Practice notes
Brexit impact11 pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal...
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Produced in partnership with Begonia Filgueira FIEMA of Acuity Legal 30th Nov
Practice notes
UK resident companies, and companies with a UK permanent establishment, are potentially subject to three levels of tax on their profits from oil and...
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Produced in partnership with Phil Greatrex of CW Energy LLP 29th Nov
Practice notes
What is an enhanced capital allowance?An enhanced capital allowance (ECA) is a tax relief for businesses on their investments in certain categories of...
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Produced in partnership with Begonia Filgueira FIEMA of Acuity Legal 29th Nov
Practice notes
This Practice Note is about the rules on petroleum revenue tax (PRT), which was payable by oil companies on the value of oil and gas produced and...
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Produced in partnership with Phil Greatrex of CW Energy LLP 29th Nov
Practice notes
The Decommissioning Relief Deed (DRD) is a contract between the UK government and a 'Qualifying Company' which operates in the oil and gas exploration...
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Produced in partnership with Isla Stewart of Matheson 28th Nov
Practice notes
What is landfill disposals tax?Landfill disposals tax is an environmental tax administrated by the Welsh Revenue Authority.Since 1 April 2018,...
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Produced in partnership with Angus Evers of Shoosmiths 28th Nov
Practice notes
What is Scottish landfill tax?Scottish landfill tax (SLfT) is an environmental tax administrated by Revenue Scotland with support from the Scottish...
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Produced in partnership with Angus Evers of Shoosmiths 28th Nov
Practice notes
Brexit impactAs of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...
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Produced in partnership with Angus Evers of Shoosmiths 28th Nov
Practice notes
The EU emissions trading system (EU ETS) covers approximately 11,000 power stations and industrial plants in 31 countries (the 28 EU member states...
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28th Nov
Practice notes
What is land remediation relief?Land remediation relief (LRR) is a relief from corporation tax for expenditure on remediating contaminated land or...
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Produced in partnership with Begonia Filgueira FIEMA of Acuity Legal 28th Nov
Practice notes
ARCHIVED: This Practice Note has been archived and is not maintained.Brexit impact11 pm (GMT) on 31 December 2020 marks the end of the Brexit...
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28th Nov
Practice notes
STOP PRESS: This overview is being updated in light of the Finance Act 2018 and other amendments to landfill tax, the aggregates levy and climate...
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28th Nov
Practice notes
Jurisdictions coveredThe following jurisdictions are covered in this report:Argentina; Brazil; Denmark; Faroe Islands; Ghana; Greenland; India; Italy;...
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16th Oct

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