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) news analysis of the First-tier Tax Tribunal’s decision in Victoria Oil & Gas plc v HMRC,...
Tax analysis: In Victoria Oil & Gas plc v HMRC, the First-Tier Tax Tribunal (FTT) allowed the appeal in part. It decided that, in principle, Victoria...
Tax analysis: In HMRC v British Airways plc, the Upper Tribunal (UT) dismissed HMRC’s appeal, holding that mandatory hotel stays provided to cabin...
HMRC has updated its guidance on applying for an agent services account to state that approved anti-money laundering supervision must be in place...
This week's edition of Tax weekly highlights includes: (1) analysis of the Upper Tribunal’s decision in Jumpman Gaming concerning remote gaming duty...
Latest Tax Practice Notes
FORTHCOMING CHANGE: This Practice Note reflects the current legislative position, however, note that certain elements may be impacted by the Digital...
This tracker displays the status and most recent developments of key tax cases in the UK Upper Tribunal (UT), the Upper Tribunal for Scotland, the...
FORTHCOMING CHANGE relating to discovery assessment time limits and the correction of errors: on Legislation Day, 13 July 2026, draft legislation was...
The most common reasons for entering into derivatives are for the purposes of:•speculation—where a party wishes to gain exposure to a particular...
Updated in December 2025IntroductionThe UK has been one of the favoured locations for global businesses to set up their first base in Europe. The UK...
Latest Tax Precedents
Filed on behalf of the [insert party eg [Claimant OR Appellant] or [Defendant OR Respondents]]Number of witness statement: [insert eg first]Date:...
This Agreement is made on [insert date or leave date blank] Parties1[Insert Employer’s name] whose registered office is at [insert Employer’s...
This Agreement is made on [insert date]Parties1[Insert Employer’s name] whose registered office is at [insert Employer’s address], company...
1Deductions from payments and indemnity for tax deductions1.1[Subject to anything to the contrary in this Agreement,] the Company shall make all...
1Definitions and interpretation1.1In this Agreement, unless the context otherwise requires the following expressions shall have the following...
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
Carried interest (or carry)
A contingent, subordinated right to share in the profits of a private equity fund, which acts as an incentive for private equity executives. The holders of carried interest do not start to share in returns until investors have received (broadly) an amount equal to their original investment plus an additional return on their capital. Carried interest is normally expressed as a percentage of the total profits of the fund. The industry norm is 20% with the fund manager therefore receiving 20% of the profits generated by the fund (although this will not always be the case, as some negotiations with investors will result in a lower percentage).
Dwelling
A dwelling includes: • a building or part of a building which is used or suitable for use as a single dwelling or is in the process of being constructed or adapted for such use • gardens and grounds • land which subsists for the benefit of the dwelling • off plan purchases where the building has not yet been constructed
Tax-exempt income
Tax‑exempt income describes receipts that are not subject to income tax or, in some contexts, corporation tax, either because they fall outside the charge to tax or are expressly relieved from it. Legal practitioners use the term to distinguish such income from taxable income when advising on personal tax, corporate structuring, charities, investment products and cross‑border planning.
In the UK (England & Wales, Scotland and Northern Ireland), the concept is reflected in various provisions of the Income Tax Acts and Corporation Tax Acts (for example, exemptions for certain savings income, ISA returns, some foreign income, and charitable exemptions), rather than in a single statutory definition.
In Ireland, comparable exemptions are contained in the Taxes Consolidation Act 1997 and related legislation, including exemptions for specified investment income, certain social welfare payments and income of approved charities and pension schemes.
Across all these jurisdictions, classification as tax‑exempt income depends on detailed statutory conditions and, in some areas, case law interpretation. Correctly identifying exempt income affects tax liability, reporting obligations, loss relief, means‑tested benefits and the design of tax‑efficient structures and transactions.
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