General UK tax developments -
Changes to taxation of termination payments -
HMRC has updated its Employment Income Manual to reflect the changes to the taxation of termination payments (including payments in lieu of...more
5/1/2018
/ Anti-Avoidance ,
Corporate Taxes ,
Cross-Border ,
EU ,
European Court of Justice (ECJ) ,
Foreign Acquisitions ,
Foreign Corporations ,
GAAR ,
Guidance Update ,
HMRC ,
Income Taxes ,
International Tax Issues ,
PILONs ,
Tax Planning ,
Tax Warrants ,
UK ,
Value-Added Tax (VAT)
Welcome to the March edition of the Proskauer UK Tax Round Up. As promised, the Spring Statement from the Chancellor focused on the economy and public finances without any major tax announcements. However, a few interesting...more
4/5/2018
/ Anti-Avoidance ,
Capital Gains ,
Controlling Person ,
Corporate Taxes ,
Court of Justice of the European Union (CJEU) ,
Cross-Border ,
Entrepreneurs ,
EU ,
European Commission ,
Federal Budget ,
Foreign Investment ,
GAAR ,
HMRC ,
International Tax Issues ,
Investment Management ,
Limited Partnerships ,
Remuneration ,
Tax Credits ,
Tax Rates ,
UK
Case law developments -
Settlement payment not deductible as an expense of a trade (Vaines v HMRC) -
Mr. Vaines was a solicitor. In the 2007/08 tax year he paid a settlement amount to a third party that had made a...more
2/23/2018
/ Corporate Taxes ,
Cross-Border ,
EU ,
European Court of Justice (ECJ) ,
Foreign Acquisitions ,
Foreign Corporations ,
Guidance Update ,
HMRC ,
Income Taxes ,
International Tax Issues ,
PILONs ,
Tax Planning ,
Tax Warrants ,
UK ,
Value-Added Tax (VAT)
The impact of discounts on consideration for VAT purposes (Finanzamt Bingen-Alzey v Boehringer Ingelheim Pharma GmbH & Co. KG) -
The ECJ has confirmed that consideration for VAT purposes should be reduced by any discount...more
1/29/2018
/ Corporate Bonds ,
Corporate Taxes ,
EU ,
European Commission ,
European Court of Justice (ECJ) ,
GAAR ,
HMRC ,
Income Taxes ,
International Tax Issues ,
Share Purchase Agreements ,
Tax Planning ,
Tax Tribunal ,
Tax Warrants ,
UK ,
Value-Added Tax (VAT)
Finance (No. 2) Bill 2017-19 -
The first version of the Finance (No. 2) Bill 2017-19 was published on 1 December 2017. The majority of the Bill's content had been previously announced at the Autumn 2017 Budget (see...more
12/29/2017
/ BEPS ,
Common Reporting Standard (CRS) ,
Corporate Taxes ,
Disclosure Requirements ,
Distribution Rules ,
EU ,
HMRC ,
International Tax Issues ,
Member State ,
OECD ,
Royalties ,
Self-Employment Tax ,
Social Insurance Contributions ,
UK ,
Value-Added Tax (VAT)
UK Tax News and Developments -
The OTS publishes its report "Value added tax: routes to simplification" -
On 7 November, the Office of Tax Simplification (OTS) published its first report on VAT, which included a range...more
11/30/2017
/ CFC ,
Corporate Taxes ,
Court of Justice of the European Union (CJEU) ,
Diverted Profits Tax ,
Draft Guidance ,
EU ,
European Commission ,
HMRC ,
Income Taxes ,
International Tax Issues ,
National Insurance Contributions ,
OTS ,
Remuneration ,
Restitution ,
Self-Employment Tax ,
Tax Reform ,
Threshold Requirements ,
UK ,
Value-Added Tax (VAT)
UK Tax News and Developments -
Government White Paper on Customs Bill -
On 9 October, the Government published a White Paper setting out its approach to the introduction of a new customs and VAT regime after the UK...more
10/30/2017
/ Amazon ,
BEPS ,
Corporate Taxes ,
Double Taxation ,
EU ,
European Court of Justice (ECJ) ,
HMRC ,
Ireland ,
Island of Guernsey ,
Luxembourg ,
OECD ,
OTS ,
PACs ,
Pension Funds ,
Remuneration ,
Retirement Plan ,
SIFIs ,
State Aid ,
Tax Avoidance ,
Tax Tribunal ,
UK ,
UK Brexit ,
Value-Added Tax (VAT) ,
Withholding Tax
UK Tax News and Developments - Finance (No 2) Bill 2017 - The second Finance Bill of 2017, known as Finance (No 2) Bill 2017, has now been published. As expected, this contains most of the provisions which were dropped from...more
9/22/2017
/ Corporate Taxes ,
Criminal Fascilitation ,
Debt Trading ,
Foreign Corporations ,
HMRC ,
OECD ,
OTS ,
Partnerships ,
Remuneration ,
SIFs ,
Stamp Taxes ,
Tax Avoidance ,
Tax Evasion ,
Tax Reform ,
Tax Tribunal ,
Transfer Pricing ,
UK ,
Value-Added Tax (VAT) ,
Withholding Tax
UK Tax News and Developments - Latest on the Finance (No 2) Bill 2017 - On 20 July 2017 the government announced in Hansard that the House of Commons will, on Wednesday 6 September 2017, be asked to approve the Ways and Means...more
8/25/2017
/ Appeals ,
BEPS ,
Capital Gains ,
Corporate Taxes ,
EBITDA ,
GAAR ,
HMRC ,
Interest Income ,
Investment Funds ,
OECD ,
Tax Deductions ,
Tax Tribunal ,
UK ,
UK Brexit
UK Tax News and Developments -
Conservative legislative agenda set out in Queen's Speech -
Following the UK general election on 8 June 2017, at which the Conservative party won the largest number of seats but lost its...more
7/21/2017
/ BEPS ,
Corporate Governance ,
Corporate Taxes ,
Distribution Rules ,
Gaming ,
HMRC ,
OECD ,
Self-Employment Tax ,
Social Insurance Contributions ,
Stamp Taxes ,
Tax Avoidance ,
Tax Evasion ,
UK ,
Value-Added Tax (VAT)
International Tax Developments -
BEPS Multilateral Convention signed -
On 7 June, officials from more than 60 jurisdictions signed the BEPS Multilateral Convention which will transplant a number of measures in respect...more
6/16/2017
/ Anti-Avoidance ,
BEPS ,
Capital Gains ,
Corporate Bonds ,
Corporate Taxes ,
Double Taxation ,
EU ,
Film Tax Credits ,
HMRC ,
Investment Funds ,
OECD ,
Tax Deductions ,
UK ,
Value-Added Tax (VAT)
Welcome to the Tax Round Up, the first edition of what will be a regular bulletin highlighting the latest tax developments relevant to UK companies and asset managers. We plan to produce this monthly with the next one in...more
4/7/2017
/ Asset Management ,
Budgets ,
Carry Forward ,
Corporate Taxes ,
Double Taxation ,
EBITDA ,
Employee Stock Purchase Plans ,
Foreign Corporations ,
HMRC ,
Holding Companies ,
Interest Payments ,
LLPs ,
New Legislation ,
Non-Resident Income Taxes ,
Offshore Funds ,
Partnerships ,
Passporting ,
Publicly-Traded Companies ,
Remuneration ,
Shareholders ,
Tax Deductions ,
Tax Exemptions ,
Tax Treaty ,
UK ,
Value-Added Tax (VAT) ,
Withholding Tax