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 L.R. R&D LLP, the First-tier Tax Tribunal (FTT) decided that the appellant (the ‘LLP’) was not trading and, on that basis, dismissed...
This week's edition of Tax weekly highlights includes: (1) a reminder that the Chancellor will present her Spring Statement to Parliament on Wednesday...
Tax analysis: In Lynch v HMRC, the First-tier Tax Tribunal (FTT) upheld discovery assessments of just under £10m on individual steps in a failed...
Tax analysis: It is well known that successive governments and HMRC consider some umbrella companies to be a source of tax loss to the Exchequer and...
Tax analysis: In Orsted West of Duddon Sands (UK) Ltd and others v HMRC, the Court of Appeal overturned the decision of the Upper Tribunal (UT),...
Latest Tax Practice Notes
Tax and offshore funds—what is an offshore fund?Background to the UK’s offshore funds rulesSpecific tax legislation dealing with offshore funds was...
Tax and offshore funds—breaches of the reporting fund regime and exitIn order to retain reporting fund status, a reporting fund must comply with...
Devolved taxes in the UK—Scotland, Wales and Northern IrelandThis Practice Note covers current, forthcoming and potential devolved taxes and tax...
Tax and authorised investment funds—individual investorsFORTHCOMING CHANGE relating to abolition of the non-dom regime and introduction of a...
Tax and offshore funds—the reporting fund regimeA ‘reporting fund’ is an offshore fund that has been approved as a reporting fund (and which has not...
Latest Tax Precedents
Pro forma index to authorities bundle for a tax tribunal caseTC/[insert year]/[insert case number]In the first tier tribunal(Tax chamber)Between:[Name...
Pro forma index to documents bundle for a tax tribunal caseTC/[insert year]/[insert case number]In the first tier tribunal(Tax chamber)Between:[Name...
Tax warranties—short form1Compliance1.1ReturnsThe Company has duly and properly submitted all [material] computations and returns (including all land...
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...
Latest Tax Q&As
Featured Tax content
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...
VAT treatment of parking facilities
VAT treatment of parking facilitiesThis Practice Note is about the VAT treatment of parking facilities.This Practice Note contains references to EU...
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 is an intangible fixed asset?
What is an intangible fixed asset?Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to...
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...
Commercial service charges—VAT implications
Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...
Amortisation of intangible fixed assets
Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...
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....
Taxation of gambling in the UK
Taxation of gambling in the UKCoronavirus (COVID-19): in light of the coronavirus crisis, HMRC has announced a change to the way returns for General...
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...
Tax—Finance Act 2022—progress through Parliament [Archived]
Tax—Finance Act 2022—progress through Parliament [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note...
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...
Transfer pricing and private equity transactions
Transfer pricing and private equity transactionsIP COMPLETION DAY: The Brexit transition period ended at 11pm on 31 December 2020. At this time...
What is a trade for tax purposes?
What is a trade for tax purposes?A company is subject to corporation tax on the profits of its trade or trades in accordance with the rules found in...
Taxation of trading profits—basis, receipts and deductions
Taxation of trading profits—basis, receipts and deductionsOnce a company has established that it has a trade (for which see Practice Note: What is a...
Partnerships and VAT
Partnerships and VATA general partnership is treated, for VAT purposes, as though it were a separate taxable person.This note is about:•the nature of...
Types of lending
Types of lendingOverdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving...
Ordinary share capital—what it means and why it matters for UK tax purposes
Ordinary share capital—what it means and why it matters for UK tax purposesThe concept of ordinary share capital is important for UK tax purposes....
Associated legal terms
Advance corporation tax
An advance payment of corporation tax made by a company between 1973 and 1999 when it made dividend payments (or any other qualifying distributions) to its shareholders.
Carried interest clawback
A clawback provision (usually seen where a fund uses a deal-by deal model) that ensures that the carried interest partner does not receive more than its agreed percentage of carried interest over the life of the fund. So, for example, if it receives 21% of the partnership’s profits instead of the agreed 20%, limited partners can claw back the extra 1%.
Double tax treaty
An agreement (also called DTT) allocating taxing rights between jurisdictions aimed at preventing double taxation and cross-border tax evasion. They are international agreements forming part of the tax law of each state. They generally relieve from taxation and cannot impose a higher tax burden than that arising under domestic legislation.
CONTACT US
