About Tax Law
In corporate tax, there’s no hiding. An opinion won’t cut it, unless it’s backed up by authority. And in such a complex, ever-changing area there’s no room for mistakes.
VAT
Content written by the author of the leading textbook in this area and includes several sector specific Practice Notes. It links directly to Tolley’s Orange Tax Handbook, Tax Journal and key text De Voil.
Finance
Excellent practical content for loans, derivatives and debt capital markets. The content links directly to Tolley’s Yellow Tax Handbook, Simon’s Taxes, Tolley annuals, Tax Journal and key text Ghosh Johnson and Miller.
Taxes management and litigation
This is an area where many people find themselves a bit at sea. Our content is practical, detailed and covers the major issues in dealing with a tax enquiry or dispute.
Trusted tax tests
When you need to delve deeper, Lexis+® Tax links you to trusted tax texts, including Tolley’s Yellow and Orange Tax Handbooks, Simon’s Taxes, Sergeant and Sims, De Voil, Tax Journal and Taxation.
Topics We Cover
Latest Tax News
Tax Analysis: In Aubrey Weis v HMRC, the High Court granted the claimant’s application to extend time to bring judicial review proceedings against...
Tax analysis: In GW Martin & Co Ltd & another v HMRC, the First-tier Tax Tribunal (FTT) dismissed the appeals brought by the appellant companies,...
This week's edition of Tax weekly highlights includes: (1) News Analysis on the FTT’s decision in Isle of Wight NHS Trust concerning the VAT treatment...
Tax analysis: In Isle of Wight NHS Trust v HMRC, the First-tier Tax Tribunal (FTT) decided that VAT at the standard rate had incorrectly been charged...
Tax analysis: In both City Blinds Scotland Ltd v HMRC and Complete Solutions Europe Ltd v HMRC, the First-tier Tax Tribunal (FTT) made decisions...
Latest Tax Practice Notes
The security agentWhat is a security agent?The role of the security agent is very important in syndicated transactions. In a syndicated loan...
Taxation of derivatives—chargeable gains basis rulesThe general rule (as explained in Practice Note: Taxation of derivatives—the main rules) is that...
Taxation of derivatives—embedded derivativesThis Practice Note explains what embedded derivatives are, and their relevance and treatment within the...
Brexit timelineOn 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU. On 29...
REUL reform SI databaseThis Practice Note tracks the progress of secondary legislation introduced as part of the government’s post-Brexit reform...
Latest Tax Precedents
Loan note instrument—buyout—managers£[insert number][insert rate]% [subordinated ]redeemable loan notes20[insert year][insert name of Issuer]This...
Settlement agreement (employment) (short form)This Agreement is made on [insert date]Parties1[Insert Employer’s name] whose registered office is at...
Settlement agreement (employment)This Agreement is made on [insert date or leave date blank] Parties1[Insert Employer’s name] whose registered office...
Election under CTA 2009, s 792 to reallocate intangible fixed asset degrouping charge to another member of a group[Letterhead][Addressed to HMRC...
Anti-tax evasion facilitation clause—pro-customer1Anti-tax evasion facilitation1.1For the purposes of this clause 1:1.1.1the expressions ‘Associated...
Latest Tax Q&As
Featured Tax content
VAT treatment of damages and compensation payments
VAT treatment of damages and compensation paymentsA damages or compensation payment may attract VAT. This depends on exactly what the payment is for....
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...
What are capital allowances and capital expenditure?
What are capital allowances and capital expenditure?What are capital allowances?Capital allowances are the means by which tax relief is given for some...
If the words ‘exclusive of VAT’ are omitted from the definition of annual rent, but there is a VAT clause stating: ‘Where this lease requires the tenant to pay or provide any amount in respect of a VAT supply to the tenant...that amount will be deemed to be exclusive of VAT...and the tenant shall pay a sum equal to that VAT’, will this be sufficient to charge the tenant VAT? Is there any case law in this area?
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...
Residential service charges—VAT implications
Residential service charges—VAT implicationsThis Practice Note is about the VAT treatment of residential service charges.Service charges payable to...
Commercial service charges—VAT implications
Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
Taxation of UK LLPs
Taxation of UK LLPsA UK limited liability partnership (LLP) is a body corporate for company law purposes, but is generally taxed as though it were a...
Qualifying charitable donations and excess management expenses
Qualifying charitable donations and excess management expensesAll companies within the charge to corporation tax can deduct qualifying charitable...
Amortisation of intangible fixed assets
Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...
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...
Tax treatment of reorganisations of share capital
Tax treatment of reorganisations of share capitalThis Practice Note is about the meaning of a reorganisation for tax purposes, and the tax treatment...
Capital gains—intra-group asset transfers
Capital gains—intra-group asset transfersCompanies which form a group for capital gains purposes are able to transfer assets to one another free of...
VAT treatment of intermediaries, agents and disbursements
VAT treatment of intermediaries, agents and disbursementsFor VAT purposes, an intermediary is a person who makes arrangements for, or facilitates, a...
Taxation of private equity funds—the investors
How are investors in a private equity fund taxed on their share of the profits?This Practice Note sets out how the investors in a typical UK private...
Tax and offshore funds—what is an offshore fund?
Taxation of offshore funds—what is an offshore fund?Background to the offshore funds rulesSpecific tax legislation dealing with offshore funds was...
Partnerships and capital gains
Partnerships and capital gainsThis Practice Note is about the capital gains tax and corporation tax on chargeable gains treatment of UK general...
Tax considerations on a loan agreement—the tax gross up clause
Tax considerations on a loan agreement—the tax gross up clauseIt is standard market practice for loan agreements (also known as facility agreements),...
Associated legal terms
Exempt supply
A supply that is excluded from the charge to tax.
Group relief
This relief enables one company (the surrendering company) to surrender its current trading losses, capital allowances, non-trading deficits on loan relationships, excess management expenses, excess property business losses, excess non-trading losses on intangible fixed assets and excess charges on income, to another company (the claimant company), provided that both companies are in the same group throughout the relevant and respective accounting period(s).
Holdover relief
A relief in respect of chargeable gains which applies to gifts of business assets (ie, assets used in a trading business) or shares in an unquoted trading company.
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