Asset sales

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Practice notes
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...
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19th May
Practice notes
VAT—triangulationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 19th May
Practice notes
How employment income is taxed—non-cash earnings or benefitsIn addition to cash earnings, such as wages or salaries, many reward packages include...
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19th May
Practice notes
What is an intangible fixed asset?Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 19th May
Practice notes
UK Crown Dependency/Overseas Territory Agreements (CDOT)—FAQsWhat are the CDOT agreements?The UK entered into agreements with its three Crown...
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Produced in partnership with Ali Kazimi of Hansuke 19th May
Practice notes
Key tax consequences of an insolvent liquidationThis Practice Note outlines:•the main corporation tax consequences when a UK incorporated company...
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Produced in partnership with Julia Fox of Deloitte LLP and Anthony Davis 19th May
Practice notes
Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 19th May
Practice notes
EIS—deferred gain becomes chargeable to CGTCoronavirus (COVID-19): In response to the coronavirus (COVID-19) pandemic, the government introduced a...
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19th May
Practice notes
Property holding structures—direct tax treatment of a Jersey property unit trust (JPUT)STOP PRESS relating to property rich collective investment...
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19th May
Practice notes
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...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 19th May
Practice notes
Tax considerations on a loan agreement—the tax gross up clauseIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit...
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Produced in partnership with Eloise Walker of Pinsent Masons 19th May
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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19th May
Practice notes
Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...
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Produced in partnership with Martin Wilson 19th May
Practice notes
The Budget and Finance Bill processThe Budget is a Parliamentary event at which the Chancellor of the Exchequer makes important announcements relating...
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19th May
Practice notes
Capital reduction demergersThe reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are...
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Produced in partnership with Zoe Feller of Bird & Bird 19th May
Practice notes
Why have a tax covenant?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...
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19th May

Most recent Asset sales content

Q&As
In many asset sales the apportionment of the business' sale price apportions £1.00 to the business' lease, why is this and how is this apportionment...
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27th Jul
Precedents
Asset purchase agreement—long form—conditional (buyer’s version)This Agreement is made on [insert day and month] 20[insert year]Parties1[insert name...
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27th Jul
Q&As
Is VAT chargeable on the sale of a business where the seller is not registered for VAT?UK value added tax (VAT) is chargeable on a transaction where a...
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13th Jul
Practice notes
VAT—transfers of a going concern involving land and buildingsThis Practice Note is about the issues that arise on a transfer of a going concern...
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Produced in partnership with Martin Scammell 13th Jul
Practice notes
VAT—what is a transfer of a business as a going concern?The sale of a 'business' is really a sale of assets bundled together. VAT would therefore be...
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13th Jul
Practice notes
Section 198 and 199 elections on transactions involving real estateThis Practice Note describes the law and practice relating to elections under...
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Produced in partnership with Martin Wilson 12th Jul
Practice notes
VAT—consequences of a transfer of a going concernThe conditions for a transfer of a business to be treated as a transfer of a going concern (a TOGC)...
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12th Jul
Precedents
Election—capital allowances apportionment on sale of land—CAA 2001, s 198[Date][Transferor's name and Unique Taxpayer Reference (UTR)][Transferee's...
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Produced in partnership with Martin Wilson 8th Jul
Precedents
Election—capital allowances apportionment on grant of lease—CAA 2001, s 199[Date][Grantor's name and Unique Taxpayer Reference (UTR)][Grantee's name...
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Produced in partnership with Martin Wilson 8th Jul
Practice notes
Key tax considerations in an asset saleThe sale of a company's business can be structured as either:•a sale of the business assets owned by the...
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Produced in partnership with Mark Simpson of Squire Patton Boggs (UK) LLP 1st Jul
Practice notes
Capital allowances on property sales—pre-contract enquiriesThis Practice Note is about capital allowance-related pre-contract enquiries on a property...
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Produced in partnership with Martin Wilson 1st Jul
Practice notes
Capital allowances—interaction with CGT, VAT and stamp taxesThis Practice Note sets out how the capital allowances rules interact with the rules...
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Produced in partnership with Martin Wilson 30th Jun
Precedents
Capital allowances clauses—property sale contract1Capital allowances—for use where the Seller has claimed plant and machinery allowances and the...
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Produced in partnership with Martin Wilson 22nd Jun
Q&As
What are the PAYE and NICs implications of a TUPE transfer?When employees are transferred to a new business pursuant to a TUPE transfer, there will be...
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5th Jun
Q&As
Do you have a mutual anti-tax evasion facilitation clause for use in corporate transactional documents?The Criminal Finances Act 2017 (CFA 2017) came...
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5th Jun
Practice notes
What are the UK and generic overseas tax considerations for a UK purchaser acquiring an overseas business?A UK based purchaser of an overseas business...
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Produced in partnership with Simon Letherman and Michael Ward of Shearman & Sterling (London) LLP 5th Jun
Practice notes
How is a capital gain calculated?Although the Taxation of Chargeable Gains Act 1992 (TCGA 1992) does not set out how to calculate a capital gain...
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5th Jun
Practice notes
Roll-over relief for capital assetsThis Practice Note is about roll-over relief for capital assets, which is a deferral of capital gains tax, or...
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5th Jun

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