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Latest Tax News

Tax weekly highlights—21 November 2024

Tax weekly highlights—21 November 2024

The following Tax news provides comprehensive and up to date legal information on Tax weekly highlights—21 November 2024

UT finds FTT made errors when setting aside HMRC best judgment assessment (HMRC v Sintra Global)

UT finds FTT made errors when setting aside HMRC best judgment assessment (HMRC v Sintra Global)

The following Tax news provides comprehensive and up to date legal information on UT finds FTT made errors when setting aside HMRC best judgment assessment (HMRC v Sintra Global)

Supreme Court rules on the scope and limitations of the enterprise zone tax incentive (R (oao Cobalt Data Centre) v HMRC)

Supreme Court rules on the scope and limitations of the enterprise zone tax incentive (R (oao Cobalt Data Centre) v HMRC)

The following Tax news provides comprehensive and up to date legal information on Supreme Court rules on the scope and limitations of the enterprise zone tax incentive (R (oao Cobalt Data Centre) v HMRC)

Consultation on expanding tax conditionality to new sectors

Consultation on expanding tax conditionality to new sectors

The following Environment news provides comprehensive and up to date legal information on Consultation on expanding tax conditionality to new sectors

Featured Tax content

Direct tax treatment of damages and compensation payments

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 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)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?

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...

Practice notes

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...

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Produced in partnership with Martin Wilson

2nd Mar

Practice notes

Commercial service charges—VAT implications

Commercial service charges—VAT implicationsThis Practice Note is about the VAT treatment of non-residential service charges. General positionService...

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Produced in partnership with Martin Scammell

1st Mar

Practice notes

Amortisation of intangible fixed assets

Amortisation of intangible fixed assetsWhere a company acquires (or otherwise incurs capitalised expenditure upon) an intangible fixed asset that...

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Produced in partnership with Anne Fairpo

2nd Mar

Practice notes

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....

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2nd Mar

Practice notes

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...

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Produced in partnership with Carl Rohsler of Memery Crystal

1st Mar

Practice notes

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...

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Produced in partnership with John Fuszard of Sagars Accountants Ltd

2nd Mar

Practice notes

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...

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1st Mar

Practice notes

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...

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1st Mar

Practice notes

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...

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Produced in partnership with Batanayi Katongera of Macintyre Hudson

2nd Mar

Practice notes

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...

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1st Mar

Practice notes

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...

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2nd Mar

Practice notes

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...

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2nd Mar

Practice notes

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....

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Produced in partnership with Michael McGowan

1st Mar

Practice notes

Types of lending

Types of lendingOverdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving...

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2nd Mar

Practice notes

Corporation tax loss relief—trading losses

Corporation tax loss relief—trading lossesA company that has incurred a trading loss in an accounting period can, in general, use that loss by:•making...

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1st Mar

Practice notes

Tax issues on a scrip or stock dividend

Tax issues on a scrip or stock dividendWhat is a scrip dividend and why do companies make them?A scrip dividend, also referred to as a scrip or stock...

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1st Mar

Popular documents

Tax consequences of share buybacks—main rules

Tax consequences of share buybacks—main rulesA limited company is permitted to buy back shares that it has in issue, provided certain conditions set out in the Companies Act 2006 (CA 2006) are met. This is known as a share buyback or a ‘purchase of own shares’. In addition to the CA 2006 conditions,

If a company buys back shares from two shareholders where the consideration for each is under £1,000, but

If a company buys back shares from two shareholders where the consideration for each is under £1,000, but for both together is more than £1,000, are they treated as two buybacks so each can fall within the 'under £1,000' stamp duty exemption, or are they treated in aggregate?We have assumed

Key CGT implications for shareholders in a rights issue

Key CGT implications for shareholders in a rights issueThis Practice Note:•explains the key CGT (used as shorthand for capital gains tax and corporation tax on chargeable gains) implications of a rights issue for shareholders who:◦are resident for tax purposes in the UK, and◦hold their existing

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a