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
This week's edition of Tax weekly highlights includes: (1) the UT decision in Nellsar on valuation, (2) the UT decision in Murphy on the validity of...
Tax analysis: In Scatola, the Upper Tribunal (UT) dismissed the taxpayers’ appeal against closure notices charging stamp duty land tax (SDLT)...
Tax analysis: In Eyre and others v HMRC, the First-tier Tax Tribunal (FTT) held that the appellants were not entitled to entrepreneurs’ relief on...
Tax analysis: In Eyre, the First-tier Tax Tribunal (FTT) held that the appellants were not entitled to entrepreneurs’ relief on disposals of shares in...
This week's edition of Tax weekly highlights includes: (1) updates to HMRC’s DOTAS guidance, (2) a Scottish Statutory Instrument extending LBTT group...
Latest Tax Practice Notes
Public offer exemption from SDRTFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence...
Loan capital exemption from stamp dutyFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for...
Bonds and UK stamp taxesFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence in 2020,...
Stamp duty and stamp duty reserve tax implications of stabilisation transactions, including the over-allotment or greenshoe optionFORTHCOMING CHANGE...
Exemption from stamp duty (but not SDRT) for dematerialisation of securitiesFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares...
Latest Tax Precedents
Stamp duty adjudication letterFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence in...
Application letter—stamp duty group relief—FA 1930, s 42FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following...
Witness statement—genericFiled on behalf of the [insert party eg [Claimant OR Appellant] or [Defendant OR Respondents]]Number of witness statement:...
Loan note instrument—private M&A—share purchaseThis Instrument is dated [insert date] 20[insert year]Parties1[Insert name of issuing company]...
Tax covenant—single corporate seller—buyer and seller wordingThe ScheduleTax Covenant1Definitions and interpretation1.1Notwithstanding clause 1.3 of...
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
Input tax
VAT chargeable under the UK or Isle of Man legislation which is incurred by a taxable person in respect of goods or services used (or to be used) for the purposes of a business carried on (or to be carried on) by him (Value Added Tax Act 1994, s 24(1)).
Stamp Duty Land Tax
Stamp duty land tax is chargeable on land transactions, which are acquisitions of chargeable interests, ie legal or equitable interests in land located in the England and Northern Ireland, for chargeable consideration. The equivalent tax in Scotland is ‘land and buildings transaction tax’ and in Wales is ‘land transaction tax’.
Taxable supply
Supply which gives rise to registration or a charge to tax.
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