There has been another development on the tricky but important subject of whether the rights attaching to preference shares mean that they are or are not ordinary shares for entrepreneurs’ relief (and other tax)...more
EU developments -
European Court rules that withholding tax exemptions under EU Directives can be denied by abuse of rights principle -
At the end of February, the Court of Justice of the European Union (CJEU) issued...more
4/3/2019
/ Anti-Avoidance ,
Beneficial Owner ,
Capital Gains ,
Controlled Foreign Corporations ,
Court of Justice of the European Union (CJEU) ,
HMRC ,
Income Taxes ,
International Tax Issues ,
Member State ,
OECD ,
Parent Corporation ,
Subsidiaries ,
UK ,
Value-Added Tax (VAT) ,
Withholding Tax
UK Developments -
Taxpayer succeeds in judicial review case against HMRC -
On 22 November 2018, the Upper Tribunal published its decision on the judicial review case of R. (on the application of Vacation Rentals (UK)...more
12/31/2018
/ Corporate Taxes ,
Cross-Border ,
EU ,
Foreign Corporations ,
Guidance Update ,
HMRC ,
Income Taxes ,
International Tax Issues ,
Island of Guernsey ,
Limited Partnerships ,
Multilateral Agreement ,
Poland ,
Tax Exemptions ,
UK ,
Value-Added Tax (VAT)
General UK Tax Developments -
Finance Bill -
The Finance (No 3) Bill 2018-19 (which will become the Finance Act 2019) was published on 7 November and includes legislation to enact the changes highlighted in our UK Budget...more
UK Case Law Developments -
Entrepreneurs' relief – voting rights not imputed for equitable reasons -
In George v HMRC, the First Tier Tribunal (FTT) decided that they could not apply the equitable principle that...more
10/8/2018
/ BEPS ,
Corporate Taxes ,
EU ,
European Commission ,
HMRC ,
Income Taxes ,
International Tax Issues ,
Ireland ,
Share Purchase Agreements ,
Tax Planning ,
Tax Tribunal ,
UK ,
Value-Added Tax (VAT)
Streaming of losses on trade succession (Leekes v. HMRC) -
This case involved a taxpayer who purchased a business (the "predecessor business") and combined it with their existing business (creating the "enlarged...more
7/5/2018
/ Acquisitions ,
Anti-Avoidance ,
Borrowers ,
Financial Institutions ,
Foreign Taxpayers ,
HMRC ,
Income Taxes ,
Legislative Agendas ,
Lenders ,
OTS ,
Private Sector ,
Public Sector Unions ,
UK
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)
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)
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)