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Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
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 9th Nov
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Gary Barnett, Martin Shah and Simmons & Simmons 9th Nov
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 9th Nov
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 9th Nov
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 9th Nov
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 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 9th Nov
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
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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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 VAT content

Practice notes
THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMESThis Practice Note contains references to case law of the Court of Justice of...
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Produced in partnership with Christopher Stiles of Gowling WLG 25th Nov
Practice notes
This Practice Note is about VAT issues to consider on the assignment or termination of a lease.In this Practice Note, unless stated otherwise,...
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Produced in partnership with Martin Scammell 20th Nov
Practice notes
This Practice Note is about the issues that arise on a transfer of a going concern involving land and buildings.A transfer of a going concern (TOGC)...
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Produced in partnership with Martin Scammell 19th Nov
Practice notes
The sale of a 'business' is really a sale of assets bundled together. VAT would therefore be charged on the transfer of each asset in accordance with...
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Produced in partnership with Cathya Djanogly 18th Nov
Practice notes
FORTHCOMING CHANGE: At Budget 2020, the government announced that it will conduct a review of the UK funds regime including the VAT treatment of fund...
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Produced in partnership with Gary Barnett and Martin Shah 18th Nov
Practice notes
Coronavirus (COVID-19)—PPE: A temporary zero rate of VAT applied to supplies of personal protective equipment (PPE) between 1 May 2020 and 31 October...
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18th Nov
Practice notes
BREXIT: This document contains guidance on subjects impacted by the UK’s withdrawal from the EU including: •on 1 March 2019 the Value Added Tax (Input...
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18th Nov
Practice notes
This Practice Note sets out how the capital allowances rules interact with the rules relating to:•capital gains tax, including corporation tax on...
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Produced in partnership with Martin Wilson 17th Nov
Q&As
A supply of services is defined in the Value Added Tax Act 1994 (VATA 1994) as 'anything which is not a supply of goods but is done for a...
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13th Nov
Practice notes
Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 11th Nov
Practice notes
Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 11th Nov
Practice notes
Coronavirus (COVID-19): HMRC has recognised some intended removals of goods have been delayed because of the coronavirus pandemic. As a result, HMRC...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 11th Nov
Practice notes
This Practice Note is about the application of the EU principle of abuse of rights (or abuse of law) in the field of VAT. This is often referred to as...
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Produced in partnership with Gary Barnett, Martin Shah and Simmons & Simmons 11th Nov
Practice notes
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Gary Barnett, Martin Shah and Simmons & Simmons 11th Nov
Practice notes
This Practice Note is about the VAT reverse charge for building and construction work, which applies from 1 March 2021.The charge was originally...
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Produced in partnership with Martin Scammell 4th Nov
Practice notes
This Practice Note is about the option to tax land and buildings. It considers the person by whom the option is exercised, the scope of the option,...
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Produced in partnership with Martin Scammell 3rd Nov
Practice notes
Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 3rd Nov
Practice notes
Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 3rd Nov
Practice notes
Coronavirus (COVID-19): HMRC has recognised some intended exports of goods have been delayed because of the coronavirus pandemic. As a result, HMRC...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 2nd Nov

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