HM Revenue and Customs (HMRC) now considers that charges made by businesses to their customers to withdraw early from agreements to supply goods or services are payments for a supply and potentially subject to value added-tax...more
In this roundup, we look at some of the key cases in corporate and real estate tax from December 2021 to January 2022, including the value–added tax (VAT) decisions on input VAT that was not passed on to final consumers and...more
As environmental, social and governance (ESG) considerations become ever more central to doing business, tax is equally becoming a critical ESG factor. This is evidenced, among other measures, by the increased social interest...more
The Finance Act 2021 sets out a more sustainable and environmentally friendly tax system by legislating to implement a plastic packaging tax (Tax). The new Tax, which will come into force on 1 April 2022, will encourage the...more
The eight new freeports in England include tax breaks for employers and businesses, but what are they and where will they be?
What Are Free Zones?
Free zones (also known as freeport customs sites) are designated...more
Tax avoidance is the process of manipulating tax rules to reduce the amount of tax payable and obtaining a financial advantage that was never the intention of the legislation. A typical example of tax avoidance involves the...more
Securitisation is a widely used method of raising debt finance on capital markets through the issue of asset-backed securities. Typically, income-producing assets are used as collateral backing for the issue of securities by...more
The size of the UK's 'legal interpretation tax gap' is a matter of increasing concern to the government, so much so that it has now published its second consultation on the topic. A 'legal interpretation tax gap' arises where...more
The Finance Bill 2021 sets out a more sustainable and environmentally friendly tax system by legislating to implement a plastic packaging tax (the "Tax"). The new Tax will encourage the use of recycled plastic within...more
HM Revenue and Customs (HMRC) has adopted a new position regarding VAT on contractual termination payments and cancellation fees....more
Following on from the announcement in the 2018 Budget, from 1 April 2021 non-UK resident purchasers of residential property in England and Northern Ireland will be subject to a new higher rate of SDLT of 2 percentage points...more
Finance Act 2020: This Time It’s Personal (Liability) -
The Finance Act 2020 introduces new rules which make certain individuals who have a ‘relevant connection’ to a company that is, or is likely to become, subject to an...more