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 Nellsar, the Upper Tribunal (UT) dismissed both parties’ appeals and affirmed the decision of the First-tier Tax Tribunal (FTT). In...
This week's edition of Tax weekly highlights includes: (1) the UT decision in Nellsar on valuation, (2) the UT decision in Murphy on the validity of...
Tax analysis: In Scatola, the Upper Tribunal (UT) dismissed the taxpayers’ appeal against closure notices charging stamp duty land tax (SDLT)...
Tax analysis: In Eyre and others v HMRC, the First-tier Tax Tribunal (FTT) held that the appellants were not entitled to entrepreneurs’ relief on...
Tax analysis: In Eyre, the First-tier Tax Tribunal (FTT) held that the appellants were not entitled to entrepreneurs’ relief on disposals of shares in...
Latest Tax Practice Notes
Tax—consolidated HMRC Manuals trackerThis Practice Note is a consolidated version of the HMRC Manuals tracker that appears each week in the Tax weekly...
Tax—consultation and legislation trackerThis Tax tracker shows the current status of, and developments on, consultations (both formal and informal)...
Tax—case trackerThis tracker displays the status and most recent developments of key tax cases in the UK Upper Tribunal (UT), the Upper Tribunal for...
Preparing a company for listing on the Official List and admission to trading on the Main MarketThis Practice Note examines the key steps and issues...
Brexit timelineOn 23 June 2016, the UK held a referendum on its membership of the EU, with a majority voting in favour of the UK leaving the EU. On 29...
Latest Tax Precedents
Stamp duty adjudication letterFORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following the call for evidence in...
Application letter—stamp duty group relief—FA 1930, s 42FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: Following...
Witness statement—genericFiled on behalf of the [insert party eg [Claimant OR Appellant] or [Defendant OR Respondents]]Number of witness statement:...
Loan note instrument—private M&A—share purchaseThis Instrument is dated [insert date] 20[insert year]Parties1[Insert name of issuing company]...
Tax covenant—single corporate seller—buyer and seller wordingThe ScheduleTax Covenant1Definitions and interpretation1.1Notwithstanding clause 1.3 of...
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
Holdover relief
A relief in respect of chargeable gains which applies to gifts of business assets (ie, assets used in a trading business) or shares in an unquoted trading company.
MTIC fraud
Missing trader intra-community (MTIC) fraud is a form of VAT evasion that involves the trader who is liable for an amount of VAT going missing or hiding behind a false identity such that the VAT due cannot be recovered.
Performance ratchet
A mechanism that determines the eventual equity allocation between groups of shareholders. The equity allocation in a company varies, depending on the performance of the company and the rate of return that the private equity firm achieves. Performance ratchets are often used as a incentivisation tool for the managers in a buyout.
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