Cross-border VAT

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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 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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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 12th Jan
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 12th Jan
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 12th Jan
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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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 12th Jan
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
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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9th Nov
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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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 of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 12th Jan
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
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
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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 Cross-border VAT content

Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 21st Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 21st Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
Where is a supply made for VAT purposes?In order to determine whether a supply is subject to UK VAT or VAT in another jurisdiction it is necessary to...
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Produced in partnership with Michael Ridsdale of Wedlake Bell LLP 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
Read More >
Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Q&As
In order to answer this question it is necessary to understand the effect of the VAT Directive in UK law prior to Brexit, before going on to consider...
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25th Mar
Practice notes
This Practice Note is about the VAT place of supply rules for property transactions and associated services. For information on the place of supply of...
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Produced in partnership with Martin Scammell 3rd Mar
Practice notes
As further explained in Practice Note: What is VAT?, ordinarily:•an amount equal to the VAT due on a supply is paid by the recipient of the supply to...
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Produced in partnership with Michael Ridsdale of Wedlake Bell LLP 25th Feb
Q&As
Interest on VAT debts arises under section 74 of the Value Added Tax Act 1994 (VATA 1994). Interest on customs debts arises under section 126 of the...
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15th Feb
Q&As
This Q&A does not consider the situation where the goods are in a fiscal warehousing regime (under which certain goods may be traded in a VAT-free...
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15th Feb
Q&As
As with most aspects of Brexit, we are yet to ascertain the precise impact of the UK’s impending exit from the EU on cross-border VAT and Customs...
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Produced in partnership with Andrew Rimmer of BVC Associates Ltd 15th Feb
Q&As
In order to assess whether a cross-border supply is subject to UK value added tax (VAT), it is necessary to consider the place of supply rules, which...
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27th Dec
Q&As
We are not aware that there is a legal obligation to have a UK bank account in order to register for value added tax (VAT). HMRC forms for registering...
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29th Nov

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