JURIST

NOVEMBER 23, 2023

The United Nations General Assembly (UNGA) on Wednesday adopted a resolution to move forward with a proposal for a UN tax convention to promote international tax cooperation. The resolution provides for an intergovernmental committee to develop protocols and measures to combat tax-related illicit financial flows.

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Drafting 156

Mondaq

MARCH 10, 2022

Individuals and families intending to relocate to the UK should ensure they undertake pre-arrival tax planning in advance of a move, so that their affairs are arranged as efficiently as possible for UK tax purposes.

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Mondaq

DECEMBER 6, 2021

Welcome to November's edition of the UK Tax Round Up. This month has seen publication of the Finance Bill 2021-22 (what will become the Finance Act 2022) including draft legislation for the basis period reform.

Finance 52

Finance Drafting 52

JURIST

JUNE 6, 2021

The G7 countries announced Saturday an agreement establishing a 15 percent global tax rate on large multinational corporations. Finance ministers from the US, UK, Canada, France, Japan, Germany, and Italy met in London to discuss the question of global taxation, which has been in discussion for almost ten years.

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Finance Legal Legal 104

Mondaq

AUGUST 22, 2022

Whether an individual is UK tax resident in a particular year under the UK Statutory Residence Test (SRT) is largely determined by the number of days that an individual spends in the UK.

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JURIST

APRIL 6, 2024

The protestors specifically opposed the Dutch government’s tax concessions for companies such as Shell, which are linked with the fossil fuel industry. On Saturday, demonstrations took place in support of this cause in Germany, Belgium, Sweden, Portugal, Spain, Italy, UK, Poland and the Netherlands.

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Government 197

Mondaq

MAY 24, 2022

A new 2% surcharge for stamp duty land tax (SDLT) was introduced on 1 April 2021 for buyers of residential property in England and Northern Ireland where the purchaser, or one of the purchasers, is not UK resident.

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JURIST

MARCH 22, 2021

The European Commission referred the UK to the European Court of Justice (ECJ) on Friday over failing to recover illegal state aid received by corporations in Gibraltar. Shortly afterwards, the UK submitted an amendment to Gibraltar’s tax code resolving the issue to the Commission.

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Government Legal Legal Court 104

Mondaq

JUNE 9, 2022

Welcome to May's edition of the UK Tax Round Up. This month has seen a number of interesting court decisions, an important opinion of the European Commission's Advocate General.

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Court Decisions Court 40

Mondaq

AUGUST 5, 2022

Welcome to July's edition of the UK Tax Round Up. This month has seen an interesting decision of the First-tier Tribunal on the salaried member rules as they apply to asset manager LLPs,

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Mondaq

MARCH 24, 2022

The UK government has launched a consultation on a potential new online sales tax (OST). As a novel and potentially complex tax on the digital economy, an OST presents a number of challenges in terms.

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Government 40

Mondaq

NOVEMBER 1, 2021

The Chancellor in his Budget today delivered welcome news to individuals facing a capital gains tax liability following the sale of UK residential property.

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Mondaq

AUGUST 5, 2022

We have published the 2022 edition of the ‘Tax in M&A in the UK and Europe' guide produced by Herbert Smith Freehills and other contributors.

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JURIST

APRIL 17, 2024

The UK House of Commons voted Tuesday to advance the “Tobacco and Vapes Bill” that would make it illegal for anyone born in 2009 or later to buy tobacco and add restrictions to vaping. Rather than banning smoking outright, the restrictions apply to the sale of cigarettes in the UK.

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Government Legal Legal 104

Mondaq

DECEMBER 1, 2021

The aim of this Article is to highlight the many other reasons for using Guernsey structures, besides the mitigation of tax leakage for holding UK real estate (and other assets).

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Real Estate 40

JURIST

JULY 23, 2023

For example, the Online Safety Bill in the UK. Thus, the law obliges the owners of Internet sites to cooperate with government agencies in the fight against false information and tax evasion. And the German Network Enforcement Act, which raises the issue of protecting citizens from false, malicious information, was also considered.

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Laws Technology Legal Legal 190

Mondaq

APRIL 25, 2022

The UK's First-tier Tribunal recently considered the application of the "place of effective management" residency tie-breaker test found in double tax treaties in the recent case of.

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The Crime Report

JUNE 10, 2021

It is a phenomenon that has been taxing police and law enforcement agencies in the UK and has been given the encapsulating term of “County Lines” criminality. The UK experience of the County Lines phenomenon is not replicated in Europe. As for the UK, the County Lines coordinating model is clearly a work in progress.

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Government Education Laws Court 140

JURIST

SEPTEMBER 20, 2021

For a long time, they were even paid by Afghanistan’s US and UK allies. For example, I used to work for a number of US/NATO contractors to form companies, draft joint venture agreements, shareholders resolutions and agreements, obtain work permits and secure tax exemption certification.

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Lawyer Lawyers Law Firms Law Firm 197

Law 360

MAY 4, 2022

Ahead of local elections scheduled for Thursday across the United Kingdom, Prime Minister Boris Johnson rejected one-off taxes on fossil fuel companies during a television interview, saying they'd discourage investments in what he characterized as stability in the energy sector.

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JURIST

OCTOBER 4, 2021

The documents cover a wide range of subjects including complex financial schemes for avoiding taxes, the creation of shell companies, the moving of money between banks, and a variety of different investments. These transactions have been linked to tax evasion, money laundering, and hiding assets from criminal investigators.

Law Firms 104

Law Firms Law Firm Legal Legal 104

Mondaq

OCTOBER 4, 2021

The working world has changed inexorably due to the Covid-19 pandemic and mobile working has certainly become the new norm for many of us.

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Mondaq

AUGUST 21, 2022

Paragraph 4A of Schedule 36 to the Finance Act ("FA") 20081 provides HMRC with the power to obtain information and documents from financial institutions via a Financial Institution Notice ("FIN").

Finance 52

Finance 52

The Fashion Law

SEPTEMBER 6, 2021

For instance, an estimated $500 billion is lost annually due to clothing underutilization, according to the United Nations Alliance for Sustainable Fashion, with 300,000 tons of clothing ending up in landfill every year in the UK, alone. Therein lies the challenge of trying to regulate a global industry without standardized practices.

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Manufacturing Diligence Government Legal 77

Mondaq

NOVEMBER 6, 2021

Although it contained a wide range of general spending and tax-related announcements, there was nothing of significance for the private funds industry that had not been previously announced. The Chancellor presented the Budget on 27 October.

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JURIST

DECEMBER 29, 2023

The ED press release stated that it has filed a Supplementary Prosecution Complaint against Non-Resident Indian (NRI) CC Thampi—who is based in the United Arab Emirates (UAE)—and UK national Sumit Chadha under the anti-money laundering law Prevention of Money Laundering Act in a special court.

Court 104

Court Laws 104

Mondaq

AUGUST 27, 2021

Following the Budget in March, the Government has announced changes to how trading losses of both Limited companies and unincorporated businesses can be utilised.

Government 40

Government 40

Mondaq

DECEMBER 15, 2021

In the autumn Budget, the Government announced plans to fix a longstanding pension tax issue: the "low earners anomaly". This is a positive development for low-earning members under "net pay" schemes.

Government 40

Government 40

Mondaq

AUGUST 24, 2022

Changes in public opinion, advances in technology and increased international fiscal co-operation have made global personal tax compliance initiatives pop up in abundance in recent years.

Technology 40

Technology 40

Mondaq

AUGUST 15, 2022

Diversification can lead to new sources of income, and may also be an attractive business project for younger generations of farming families looking for long-term financial stability.

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Mondaq

SEPTEMBER 23, 2022

On 1 April 2022, the Qualifying Asset Holding Companies ("QAHC") regime, the latest innovation in the UK's corporate tax landscape, came into effect for UK tax resident companies.

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Mondaq

NOVEMBER 1, 2021

The Chancellor of the Exchequer delivered the United Kingdom (UK) Autumn Budget for 2021 on 27 October 2021. The Budget was delivered against the backdrop.

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The Fashion Law

AUGUST 9, 2021

The current popularity of these buyouts has been ascribed to the effects of Brexit fears and COVID-19 on UK share prices (“bargain valuations,” according to The Times). Its pre-tax profits fell 50 percent in 2020, softening the share price. Yet, the appreciation of sterling against the U.S. based investors. Morrisons, for instance.

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Sports Government Laws 100

Mondaq

JANUARY 17, 2022

In this article, we highlight some technical tax-related developments that will be of interest and concern to employers with trust-based employee benefit arrangements.

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Mondaq

DECEMBER 29, 2021

Writing for Taxation magazine's Readers' Forum, BKL tax consultant Terry Jordan responds to a reader's query about inheritance tax (IHT) on the transfer of a family home.

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Mondaq

DECEMBER 16, 2021

Over the past few years, there has been an increase in customers buying goods and services using digital platforms and this has accelerated during the pandemic.

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Mondaq

NOVEMBER 1, 2021

From 1 April 2022 the Government will implement new tax on residential property developers. The aim of the tax is to assist the Treasury with remediation works to unsafe cladding.

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Government 40