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Latest Tax News

Draft Finance Bill 2022—notification of uncertain tax treatment

Draft Finance Bill 2022—notification of uncertain tax treatment

The following Tax news provides comprehensive and up to date legal information on Draft Finance Bill 2022—notification of uncertain tax treatment

Tax weekly highlights—29 July 2021

Tax weekly highlights—29 July 2021

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—29 July 2021

RTI was available information for the purposes of discovery (Loughrey v HMRC)

RTI was available information for the purposes of discovery (Loughrey v HMRC)

The following Private Client news provides comprehensive and up to date legal information on RTI was available information for the purposes of discovery (Loughrey v HMRC)

The tax implications of hybrid working arrangements

The tax implications of hybrid working arrangements

The following Employment news provides comprehensive and up to date legal information on The tax implications of hybrid working arrangements

Featured Tax content

VAT definition

VAT definition

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Capital allowances on property sales—pre-contract enquiries

Capital allowances on property sales—pre-contract enquiries

Capital allowances on property sales—pre-contract enquiriesThis Practice Note is about capital allowance-related pre-contract enquiries on a property...

Enhanced capital allowances

Enhanced capital allowances

Enhanced capital allowancesWhat is an enhanced capital allowance?An enhanced capital allowance (ECA) is a tax relief for businesses on their...

Two employees have been issued shares and entered into a section 431 election respectively. The date of the signatures is the date the shares are shown at Companies House as being issued. However, where the form requires the date the shares were acquired by the employee, a date has not been inserted. Does this invalidate the section 431 election?

Two employees have been issued shares and entered into a section 431 election respectively. The date of the signatures is the date the shares are shown at Companies House as being issued. However, where the form requires the date the shares were acquired by the employee, a date has not been inserted. Does this invalidate the section 431 election?

Two employees have been issued shares and entered into a section 431 election respectively. The date of the signatures is the date the shares are...

Practice notes

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...
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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 19th May
Practice notes

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...
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19th May
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...
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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...
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19th May
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Practice notes

Amortisation of intangible fixed assets

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

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...
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19th May
Practice notes

Commercial service charges—VAT implications

Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
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Produced in partnership with Martin Scammell 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...
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19th May
Precedents

Clause—tax gross up—commercial agreements

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

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

Corporate redomiciliation—can a non-UK company redomicile into the UK?

Corporate redomiciliation—can a non-UK company redomicile into the UK?It is possible for a non-UK incorporated company to redomicile to the UK....
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19th May
Practice notes

Why have a tax covenant?

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
Practice notes

Transfer of a trade under common ownership

Transfer of a trade under common ownershipSometimes the restructuring of a business will involve a company transferring an existing trade to a...
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19th May
Practice notes

SDLT group relief

SDLT group reliefFORTHCOMING CHANGE relating to FA 2008, Sch 36: In its Tax Information and Impact Note (TIIN) on freeports, the government announced...
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19th May

Most recent VAT content

Practice notes

Exemption from VAT for land and buildings

Exemption from VAT for land and buildingsFORTHCOMING CHANGE: HMRC has published a wide-ranging call for evidence seeking views on a number of options...
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Produced in partnership with Martin Scammell 4th Aug
Practice notes

The option to tax land and buildings

The option to tax land and buildingsThis Practice Note is about the option to tax land and buildings. It considers the person by whom the option is...
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Produced in partnership with Martin Scammell 2nd Aug
Q&As

Can a purchase of a commercial property subject to a lease for rooftop solar panels constitute a transfer as a going concern as a purchase of a 'letting business'? No rent is payable on the lease and the property is otherwise vacant.

Can a purchase of a commercial property subject to a lease for rooftop solar panels constitute a transfer as a going concern as a purchase of a...
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1st Aug
Q&As

If the landlord agrees to refund annual rent paid in advance for the period after a break date (assuming the break is exercised), is it correct or appropriate that the landlord should also refund the VAT paid on that rent?

If the landlord agrees to refund annual rent paid in advance for the period after a break date (assuming the break is exercised), is it correct or...
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1st Aug
Q&As

Is it possible to reclaim value added tax (VAT) on the purchase of a property if the purchaser has not paid a sum equal to the VAT to the seller and the debt has not been written off by either party?

Is it possible to reclaim value added tax (VAT) on the purchase of a property if the purchaser has not paid a sum equal to the VAT to the seller and...
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1st Aug
Q&As

Is a VAT registered company that is only carrying out exempt activities obliged to apply for deregistration?

Is a VAT registered company that is only carrying out exempt activities obliged to apply for deregistration?A person who is registered for VAT in the...
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1st Aug
Q&As

What is the VAT treatment of a dilapidations claim on termination of a lease?

What is the VAT treatment of a dilapidations claim on termination of a lease?As set out in Practice Note: VAT issues for lease assignments and...
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1st Aug
Q&As

In a VAT grouping situation, which company is entitled to a VAT repayment if the group has been disbanded and there is a new representative member? Does the old representative member, which is now in administration, have any rights over the repayment?

In a VAT grouping situation, which company is entitled to a VAT repayment if the group has been disbanded and there is a new representative member?...
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1st Aug
Q&As

Is an option to tax effective before it has been accepted by HMRC?

Is an option to tax effective before it has been accepted by HMRC?An option to tax takes effect from the date on which it is exercised, or any later...
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1st Aug
Q&As

A, B and C own an investment commercial property as tenants in common. The property is subject to occupational leases. A wishes to sell part of its beneficial interest to B. The property has been opted to tax. Is VAT chargeable on the sale price?

A, B and C own an investment commercial property as tenants in common. The property is subject to occupational leases. A wishes to sell part of its...
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1st Aug
Q&As

In a sub-sale of a commercial property, does the sub-seller need to opt to tax in order to charge VAT on the sub-sale price? The first seller in the chain has opted to tax and the transaction will not be a transfer of a going concern (TOGC).

In a sub-sale of a commercial property, does the sub-seller need to opt to tax in order to charge VAT on the sub-sale price? The first seller in the...
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1st Aug
Q&As

Is VAT chargeable on an assignment of contracts relating to the provision of financial services relating to pension and retirement planning, investment advice and management, expatriate financial advice and estate planning?

Is VAT chargeable on an assignment of contracts relating to the provision of financial services relating to pension and retirement planning,...
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1st Aug
Q&As

Is interest charged on underpaid import value added tax (VAT) pursuant to the statutory VAT provisions or the statutory customs provisions?

Is interest charged on underpaid import value added tax (VAT) pursuant to the statutory VAT provisions or the statutory customs provisions?Interest on...
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1st Aug
Q&As

Can a company that is jointly owned, 50% each, by two companies become a member of the existing VAT group of one of the shareholder companies?

Can a company that is jointly owned, 50% each, by two companies become a member of the existing VAT group of one of the shareholder companies?This Q&A...
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1st Aug
Q&As

Does the seller of a business need to be VAT registered for the transfer to be treated as a TOGC?

Does the seller of a business need to be VAT registered for the transfer to be treated as a TOGC?There are several conditions that must be met in...
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1st Aug
Q&As

Do the fees of an EIS fund manager qualify for the VAT exemption for intermediary financial services?

Do the fees of an EIS fund manager qualify for the VAT exemption for intermediary financial services?Investment management is generally subject to...
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1st Aug
Q&As

In the context of a TOGC, is it sufficient for a buyer to show they have made an application to HMRC for VAT registration or must the buyer already be VAT registered at the time of the transaction?

In the context of a TOGC, is it sufficient for a buyer to show they have made an application to HMRC for VAT registration or must the buyer already be...
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1st Aug
Q&As

Where parties to a construction contract disagree about the application of VAT to supplies under the contract, can they resolve that dispute using adjudication under the Housing Grants, Construction and Regeneration Act 1996 provided for in the contract or should they go to HMRC or the First-tier Tax Tribunal?

Where parties to a construction contract disagree about the application of VAT to supplies under the contract, can they resolve that dispute using...
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1st Aug
Q&As

What is the VAT treatment of a sub-contractor supplying materials to a contractor to be used in the construction of a zero rated new dwelling?

What is the VAT treatment of a sub-contractor supplying materials to a contractor to be used in the construction of a zero rated new dwelling?A supply...
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1st Aug
Q&As

Does a non-UK entity need to have a UK bank account in order to register for VAT in the UK and recover input tax?

Does a non-UK entity need to have a UK bank account in order to register for VAT in the UK and recover input tax?We are not aware that there is a...
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1st Aug

Popular documents

Claiming negligent misrepresentation or negligent misstatement—practical considerations

Claiming negligent misrepresentation or negligent misstatement—practical considerations

Claiming negligent misrepresentation or negligent misstatement—practical considerationsA claim for negligent misrepresentation may often be brought alongside or in the alternative to a claim for negligent misstatement. It is therefore useful to understand the key practical considerations in respect

Easements and perpetuities

Easements and perpetuities

Drafting—2009 ActThe Perpetuities and Accumulations Act 2009 effectively disapplies the rule against perpetuities from future easements granted on or after 6 April 2010, so a draftsman now need not be concerned to specify a perpetuity period. Any restrictions on the exercise of the easement

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not

Financial Conduct Authority—Principles for Businesses (PRIN)

Financial Conduct Authority—Principles for Businesses (PRIN)

Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the FCA’s High Level Standards set out in the FCA’s Handbook. The Principles are a general