Doing business in key global jurisdictions

Businesses are becoming increasingly global. However, while business itself may transcend jurisdictional borders, every jurisdiction will maintain its own regulatory approach and will have its own customs and practices with which businesses operating in that jurisdiction will need to comply.

There may be increased political or legislative risks that should be taken into consideration by businesses before they commence operations in certain jurisdictions.

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Latest Tax News

Tax weekly highlights—26 June 2025

This week's edition of Tax weekly highlights includes: (1) the Supreme Court’s decision in HMRC v Dolphin Drilling, (2) confirmation that the PISCES stamp tax exemption Regulations are to come into force on 3 July 2025 and (3) News Analyses on previously reported decisions Osmond and Allen v HMRC (on main purpose under ITA 2007, s 687), Smart v HMRC (on ‘receiving or entitled’ to income), Conservatory Insulations Northwest Ltd v HMRC (on VAT assessment time limits) and BGC Services Holdings LLP v HMRC (on the refusal of HMRC’s case management decisions permission to appeal application).

Supreme Court clarifies tax rules for oil contractors and defines ‘incidental to another use’ (Commissioners for His Majesty’s Revenue and Customs v Dolphin Drilling Ltd)

The Supreme Court has unanimously dismissed Dolphin Drilling’s appeal, ruling that the hire cap on tax deductions should apply to the Borgsten Dolphin vessel. The Court held that the vessel’s accommodation services were not ‘incidental to’ its drilling operations, making it a ‘relevant asset’ under section 356LA(3) of the Corporation Tax Act 2010 (CTA 2010).

FTT dismisses appeal finding that taxpayer was ‘receiving or entitled’ to income (Smart v HMRC)

Tax analysis: In Smart v HMRC, the First-tier Tax Tribunal (FTT) dismissed the taxpayer’s appeal against assessments and a closure notice charging income tax on distributions paid by entities forming part of a multinational group in one part of which the taxpayer was a partner in an LLP. The FTT held that he was the person ‘receiving or entitled’ to the income and rejected his alternative argument that it should act on the basis that a court would have ordered rescission of various documents under which the income was paid.

FTT refuses HMRC permission to appeal against case management decisions requiring explanation of £96m PAYE determinations (BGC Services Holdings LLP v HMRC)

Tax analysis: In BGC Services Holdings LLP v HMRC, the First-tier Tribunal (FTT) refused HMRC permission to appeal to the Upper Tribunal (UT) against two case management decisions (i) refusing HMRC’s request for further and better particulars from the taxpayer, and (ii) requiring HMRC to particularise in its statement of case how salaried members rules conditions were met for which partners, how the determinations of over £96m were calculated, and the basis for alleging deliberate or careless behaviour on the part of the taxpayer. HMRC now has the right to appeal directly to the UT for permission to appeal the decisions.