Mondaq UK: Tax
The European Court of Justice recently ruled that VAT on investment management fees paid by the trustees of a UK defined benefit pension scheme is irrecoverable under a VAT exemption for special investment contained in two EU Directives.
A discussion on the recent double taxation arrangement between Guernsey and Luxembourg.
In the latest budget, Chancellor George Osborne announced that the corporation tax rate in Britain will be cut by an additional one per cent to 20 per cent by April 2015.
A discussion on the statutory definition of tax residence.
A form of ‘mansion tax’ on high value UK residential property held in corporate ownership took effect from 1 April 2013.
Participants in certain perceived tax avoidance schemes are being offered the opportunity to settle with HMRC or face the prospect of a costly, drawn-out litigation process.
From 6 April 2013, sleeping and inactive limited partners will be required to pay class 2 and class 4 national insurance contributions (NICs).
If you are planning to purchase plant and machinery, you should consider when you will purchase it and how much you will spend and ideally contact us before the purchase.
A person who is UK-domiciled is subject to inheritance tax (IHT) on worldwide assets.
A summary of the most recent tax related developments.
In what could set a precedent in the interpretation of ‘wholly and exclusively’ allowable expenditure, Dr Samad Samadian has had his appeal dismissed by the HMRC tribunal, the culmination of a seven year battle with them over his business mileage claims.
As from 6 April 2013, small unincorporated businesses have the opportunity to calculate their profits using the cash accounting basis.
HMRC has launched a disclosure campaign aimed at those who have not declared tax on the sale of a property. September 2013.
A briefing note, which outlines the post April 2009 situation concerning discovery, information notices and discovery assessments in the light of a number of tax cases.
A discussion on the decision to remove child benefit from families with a higher-rate taxpayer.
A discussion on the measures related to the taxation of value in and out of registered pension schemes.
The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions and certain other innovations.
A list of discussions summarising the most recent tax related updates.
A discussion on the changes brought by the Finance Bill in relation to the commitments to raise the Inheritance Tax and exempt limit on the value of transfers of assets to a non-UK domiciled spouse or civil partners.
As part of its concerted drive against tax evasion and avoidance, the European Commission has set up the new ‘Platform for Tax Good Governance’.
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On 18 April 2013 the UK government issued a legal challenge to the decision of the EU Council of 22 January 2013 which authorised a subset of the EU (not including the UK) to introduce a financial transaction tax.
In his March 2011 Budget statement the Chancellor of the Exchequer announced consultation on the introduction of a statutory definition of tax residence.
On 11 December 2012, the Government published draft legislation establishing a statutory residence test for individuals coming to and leaving the UK.
UK real estate, particularly prime property in London, has always attracted significant international investment.
Many legal disputes have arisen over whether specific termination payments made to an employee are attributable to salaries tax.
This note outlines some of the issues lenders in the UK primary market need to consider in relation to FATCA.
The UK and Swiss governments have now signed the long awaited Tax Treaty.
The UK Chancellor recently presented its 2013 Budget which implemented various new measures to tackle tax avoidance schemes.
As part of the Hiring Incentives to Restore Employment Act, the US government enacted the Foreign Account Tax Compliance Act ("FATCA") on 18 March 2010.
