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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.

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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.

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Latest Tax Q&As

Q&As
Section 322(4) of the Corporation Tax Act 2009 (CTA 2009) provides that credits related to a debt/equity swap are ignored. Would this be different if the loan was denominated in a foreign currency (and discharged with shares expected to be equivalent in value). Normally, credits and debits are brought into account under the loan relationship rules for forex gains and losses at the end of an accounting period or on repayment of the loan. However, does CTA 2009, s 322(4) prevent this from happening where the loan is discharged for shares?
Q&As
Party A obtained advice from an accountant eight years ago. The accountant did not explain the tax implications of putting a property in trust. Party A has just found this out when they sold the property and had to pay a large sum in tax. Given the time that has passed since having been given the advice, is Party A still able to claim, and, if so, what cause of action could they take? The accountant did not make a negligent misstatement, he was simply silent on the tax matter. Could it also be a Consumer Act claim?
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What is retained EU law?
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In the context of Brexit, what is meant by the ‘transition or implementation period’?
Q&As
What corporation tax rules apply to determine the value of the transfer of trading stock (real estate) by way of a distribution in specie by a subsidiary (which will continue to carry on the trade of property development) to its parent company (which will begin a trade of property development with the real estate acquired from its subsidiary)?
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Associated legal terms

Business

The term "business" used in the UK legislation must be construed, as far as possible, to give effect to Directive 2006/112/EC, which uses the terminology "economic activity".

Prescribed accounting period

The period by reference to which a taxable person is required to account for and pay tax.

Supply

The Value Added Tax Act 1994, s.5(2)(a) provides that supply "includes all forms of supply".
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