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Latest Tax News

Tax weekly highlights—12 May 2022

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—12 May 2022

FTT finds that distributions paid by Jersey company out of share premium were dividends of an income nature for UK tax purposes (Beard v HMRC)

The following Private Client news provides comprehensive and up to date legal information on FTT finds that distributions paid by Jersey company out of share premium were dividends of an income nature for UK tax purposes (Beard v HMRC)

FTT decides debt release not taxable under loan relationship rules (Hexagon Properties Ltd v HMRC)

The following Tax news provides comprehensive and up to date legal information on FTT decides debt release not taxable under loan relationship rules (Hexagon Properties Ltd v HMRC)

Supreme Court confirms no VAT recovery on supplies mistakenly treated as exempt (Zipvit v HMRC)

The following Tax news provides comprehensive and up to date legal information on Supreme Court confirms no VAT recovery on supplies mistakenly treated as exempt (Zipvit v HMRC)

Featured Tax content

Direct tax treatment of damages and compensation payments

Direct tax treatment of damages and compensation paymentsWhere a dispute is brought to an end by a payment of damages or compensation, whether under a...

The double taxation treaty passport scheme (DTTP scheme)

The double taxation treaty passport scheme (DTTP scheme)The double taxation treaty passport scheme (DTTP scheme) enables a borrower to apply for and...

Tax incentives for individuals investing in AIM companies

Tax incentives for individuals investing in AIM companiesVarious tax incentives are available to individuals investing in unlisted shares and...

Partnerships and VAT

Partnerships and VATA general partnership is treated, for VAT purposes, as though it were a separate taxable person.This note is about:•the nature of...

Practice notes

Partnership losses

Partnership lossesThis Practice Note is about the calculation and use of losses (other than capital losses) made by general partnerships, limited...

16th Nov

Practice notes

Capital gains for connected persons

Capital gains for connected personsThe capital gains legislation includes specific provisions for persons who are connected with one another. These...

16th Nov

Practice notes

Taxation of trading profits—basis, receipts and deductions

Taxation of trading profits—basis, receipts and deductionsOnce a company has established that it has a trade (for which see Practice Note: What is a...

16th Nov

Practice notes

Directive for administrative cooperation in the field of taxation (DAC)—FAQs

Directive for administrative cooperation in the field of taxation (DAC)—FAQsWhat is the directive for administrative cooperation (DAC)?In 2011, the...

Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 16th Nov

Practice notes

Taxation of general partnerships

Taxation of general partnershipsThis Practice Note is about the tax treatment of a general partnership formed under English law (as opposed to a...

16th Nov

Practice notes

Disguised investment management fee rules

Disguised investment management fee rulesThis Practice Note describes the tax code applicable to fund managers—the disguised investment management fee...

Produced in partnership with Emily Clark of Travers Smith 19th Apr

Practice notes

Wales: Land transaction tax (LTT)—particular transactions and taxpayers

Wales: Land transaction tax (LTT)—particular transactions and taxpayersLand transaction tax (LTT) replaced stamp duty land tax (SDLT) in Wales with...

Produced in partnership with Andrew Evans 19th Apr

Practice notes

SDLT—notifiable transactions

SDLT—notifiable transactionsThis Practice Note considers the steps to take in relation to SDLT once it is established there is a chargeable...

16th Nov

Practice notes

Non-statutory clearances

Non-statutory clearancesCoronavirus (COVID-19): HMRC are unable to accept non-statutory clearance applications made by post due to COVID-19....

16th Nov

Practice notes

What is interest?

What is interest?Interest is an important concept in UK tax law. Specifically, an obligation to withhold UK income tax applies to payments of certain...

16th Nov

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...

16th Nov

Practice notes

Stamp duty reliefs

Stamp duty reliefsFORTHCOMING CHANGE relating to electronic stamping becomes permanent on 19 July 2021: With effect from 19 July 2021, the electronic...

16th Nov

Practice notes

Capital gains—groups of companies

Capital gains—groups of companiesThis Practice Note is about the rules for establishing whether companies are within the same group for the purposes...

16th Nov

Q&As