Islamic finance/Alternative finance arrangements

View Tax by content type:

News

Practice notes

Precedents

Q&As

Latest Tax News

Double tax relief not available under UK-USA treaty (GE Financial Investments v HMRC)

The following Private Client news provides comprehensive and up to date legal information on Double tax relief not available under UK-USA treaty (GE Financial Investments v HMRC)

Opera House’s production costs related exclusively to exempt activities (Royal Opera House Covent Garden Foundation v HMRC)

The following Tax news provides comprehensive and up to date legal information on Opera House’s production costs related exclusively to exempt activities (Royal Opera House Covent Garden Foundation v HMRC)

VAT recovery not restricted by receipt of income under renewable heat incentive scheme (Newell v HMRC)

The following Tax news provides comprehensive and up to date legal information on VAT recovery not restricted by receipt of income under renewable heat incentive scheme (Newell v HMRC)

Unfair prejudice—Court of Appeal consideration of application to strike out parts of a petition (Zedra Trust v The Hut Group)

The following Corporate news provides comprehensive and up to date legal information on Unfair prejudice—Court of Appeal consideration of application to strike out parts of a petition (Zedra Trust v The Hut Group)

Featured Tax content

Taxation of redundancy payments

Taxation of redundancy paymentsRedundancy is one of five ways in which an employment contract may be terminated unilaterally by an employer where such...

VAT treatment of parking facilities

VAT treatment of parking facilitiesThis Practice Note is about the VAT treatment of parking facilities.Why does this matter?Charges for parking are...

VAT—what is a transfer of a business as a going concern?

VAT—what is a transfer of a business as a going concern?IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...

Property authorised investment funds (PAIFs)—summary

Property authorised investment funds (PAIFs)—summaryThe regime for property authorised investment funds (PAIFs) was introduced in 2008.It created a...

Practice notes

SDLT—deeds of rectification

SDLT—deeds of rectificationStamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from...

19th May

Practice notes

VAT—triangulation

VAT—triangulationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following...

Produced in partnership with John Fuszard of Sagars Accountants Ltd 19th May

Practice notes

How employment income is taxed—non-cash earnings or benefits

How employment income is taxed—non-cash earnings or benefitsIn addition to cash earnings, such as wages or salaries, many reward packages include...

19th May

Practice notes

VAT treatment of damages and compensation payments

VAT treatment of damages and compensation paymentsFORTHCOMING CHANGE: HMRC is in the process of revising Revenue and Customs Brief 12 (2020) on the...

19th May

In-house

Practice notes

Key tax consequences of an insolvent liquidation

Key tax consequences of an insolvent liquidationThis Practice Note outlines:•the main corporation tax consequences when a UK incorporated company...

Produced in partnership with Julia Fox of Deloitte LLP and Anthony Davis 19th May

In-house

Practice notes

EIS—deferred gain becomes chargeable to CGT

EIS—deferred gain becomes chargeable to CGTCoronavirus (COVID-19): In response to the coronavirus (COVID-19) pandemic, the government introduced a...

19th May

Practice notes

Corporation tax—connected persons

Corporation tax—connected personsThis Practice Note looks at the meaning of connected persons within sections 1122 and 1123 of the Corporation Tax Act...

19th May

Practice notes

Property holding structures—direct tax treatment of a Jersey property unit trust (JPUT)

Property holding structures—direct tax treatment of a Jersey property unit trust (JPUT)STOP PRESS relating to property rich collective investment...

19th May

Practice notes

Offshore receipts in respect of intangible property (ORIP)

Offshore receipts in respect of intangible property (ORIP)Since 6 April 2019, a person that is neither UK tax resident nor resident in a full treaty...

19th May

Practice notes

FATCA in the UK—the UK:US Intergovernmental Agreement: an outline

FATCA in the UK—the UK:US Intergovernmental Agreement: an outlineIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...

Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 19th May

In-house

Practice notes

Section 198 and 199 elections on transactions involving real estate

Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...

Produced in partnership with Martin Wilson 19th May

Practice notes

Taxation of UK LLPs

Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...

19th May

Practice notes

Loan capital exemption from stamp duty

Loan capital exemption from stamp dutyDebt which:•qualifies as loan capital (whether it is short or long-term debt), and•satisfies further conditions...

19th May

Practice notes

The Budget and Finance Bill process

The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...

19th May

Practice notes

Capital reduction demergers

Capital reduction demergersThe reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are...

Produced in partnership with Zoe Feller of Bird & Bird 19th May

Practice notes

R&D capital allowances

R&D capital allowancesFORTHCOMING CHANGE: At Spring Budget 2021, the government announced a wide-ranging review of research and development (R&D)...

Produced in partnership with Anne Fairpo of Temple Tax Chambers 19th May

Most recent Islamic finance/Alternative finance arrangements content

Practice notes

Sources of Shari'ah

Sources of Shari'ahIntroductionShari'ah (also Sharia, Shariah or Shari’a) (literally, in Arabic, 'the path towards the watering place') or Islamic law...

8th Jun

Practice notes

Sukuk—investment bond arrangements and their UK direct tax treatment

Sukuk—investment bond arrangements and their UK direct tax treatmentShari’a-compliant financing arrangements (also known as Islamic financing...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Wakala—tax consequences of profit share agency arrangements

Wakala—tax consequences of profit share agency arrangementsIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk al ijara—conditions for tax relief under FA 2009, Sch 61

Sukuk al ijara—conditions for tax relief under FA 2009, Sch 61Sukuk (singular form: 'sakk') is a type of Shari’a financing arrangement also referred...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

SDLT: alternative property finance relief and musharaka—FA 2003, s 71A

SDLT: alternative property finance relief and musharaka—FA 2003, s 71AA musharaka is a form of Islamic financing that operates as a form of shared...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk—investment bond arrangements and stamp duty and SDRT

Sukuk—investment bond arrangements and stamp duty and SDRTIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk al ijara—tax reliefs for sale and leaseback arrangements

Sukuk al ijara—tax reliefs for sale and leaseback arrangementsSukuk (singular form: ‘sakk’) is a type of Shari’a financing arrangement also referred...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk al ijara—capital allowances relief under FA 2009, Sch 61

Sukuk al ijara—capital allowances relief under FA 2009, Sch 61Sukuk (singular form: ‘sakk’) is a type of Shari’a financing arrangement also referred...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk al ijara—SDLT reliefs under FA 2009, Sch 61

Sukuk al ijara—SDLT reliefs under FA 2009, Sch 61 Sukuk (singular form: ‘sakk’) is a type of Shari’a financing arrangement also referred to as Islamic...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk—investment bond arrangements and UK VAT

Sukuk—investment bond arrangements and UK VATIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation...

Produced in partnership with Etienne Wong of Old Square Tax Chambers 5th Jun

Practice notes

Murabaha—tax consequences of purchase and resale arrangements

Murabaha—tax consequences of purchase and resale arrangementsShari’a compliant financing arrangements (also known as Islamic financing arrangements)...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Musharaka—tax consequences of diminishing shared ownership arrangements

Musharaka—tax consequences of diminishing shared ownership arrangementsShari’a-compliant financing arrangements (also known as Islamic financing...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

Sukuk al ijara—relief from tax on chargeable gains under FA 2009, Sch 61

Sukuk al ijara—relief from tax on chargeable gains under FA 2009, Sch 61Sukuk (singular form: ‘sakk’) is a type of Shari’a financing arrangement also...

Produced in partnership with Sarah Squires of Old Square Tax Chambers 5th Jun

Practice notes

The structure and elements of a musharaka transaction

The structure and elements of a musharaka transactionIntroduction to musharaka—a profit and loss sharing instrument of Islamic financeA fundamental...

Produced in partnership with Morgan Lewis 4th Jun

Practice notes

Structure of a commodities murabaha transaction

Structure of a commodities murabaha transactionKey features•A Customer does not obtain a physical asset for their own use, but to engage in a series...

4th Jun

Practice notes

The structure and elements of a Sukuk transaction

The structure and elements of a Sukuk transactionThis Practice Note sets out the key differences between conventional bonds and sukuk, or trust...

Produced in partnership with Dentons 4th Jun

Practice notes

Structure of a musharaka transaction

Structure of a musharaka transactionKey features•This is a form of commercial partnership where two or more parties both provide capital (and real...

4th Jun

Practice notes

Key principles of Islamic finance

Key principles of Islamic financeShari’ah compliant or Islamic finance is a form of financing based on principles of and prohibitions under Shari’ah...

4th Jun

Practice notes

Structure of a murabaha transaction

Structure of a murabaha transactionKey features•Murabaha is one of the most controversial, but commonly used Islamic finance techniques. It is used...

4th Jun

Practice notes