Latest by Ben Roberts
Sunak's new Super-Deduction – now is the time for retail investment?
A significant measure with the potential to benefit the retail industry was announced by the Chancellor last week as part of the Spring Budget. This will take the form of a new 'super-deduction', available from April for a limited 2-year period.
Read moreThe 2021 Budget and M&A
Many in business will have a keen eye on Rishi Sunak's Budget announcement that is due on 3rd March. As always, there is intense press speculation as to the measures that may be announced.
Read moreThe Brexit deal and tax – what did we end up with?
Over the festive period a Brexit deal was finally agreed between the UK and the EU, just in time for the end of the transition period on New Year's Eve.
Read moreThe rule of DAC6 - are you ready?
UK companies involved in cross-border transactions need to be aware of looming reporting deadlines imposed by EU law and now implemented in the UK . These rules are designed to facilitate the reporting and sharing between EU tax authorities of instances of tax planning. However, the types of transactions caught by these rules are not limited to aggressive tax planning arrangements. In a number of cases, it is not a requirement for there to be a tax motive for the transaction to be reportable.
Read moreThe summer of discontent?
What comes to mind when you hear the word "summer"? The unbridled joy of no more school for 6 whole weeks? Buckets, spades and wind-swept beaches? Perhaps the call of a sun-soaked tropical island? For most, summer means taking some time out to recharge and switch off.
Read moreCorporate Tax update - July 2020
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team. This month’s update reports on some of the key developments from June 2020. Included in this update are a summary of a decision on the correct tax treatment of bonuses paid to members of an LLP, and an AG’s opinion on the VAT reverse charge position of services supplied for non-economic activity purposes. There’s also an update on HMRC guidance on “exceptional” circumstances in which anticipated losses can be used to claim back overpaid corporation tax. Finally, this update also reports on Covid-19 driven extensions to DAC6 reporting deadlines and to deadlines for notifying VAT options to tax. As ever we hope you, your family and friends are all staying safe.
Read moreVAT'll do nicely – temporary VAT rate cut to boost hospitality and tourism sectors
Last week, as part of efforts to boost the UK economy in light of the Covid-19 pandemic, the Chancellor announced a temporary (6 month) cut in the rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions.
Read moreCorporate tax update - June 2020
Welcome to the latest edition of our corporate tax update, written by members of RPC’s tax team. This month’s update reports on some of the key developments from May 2020. As well as some further COVID-19 related tax developments, this month’s report also has a bit of a sports theme with summaries of decisions involving an ex-England cricket captain and football referees. As ever we hope you, your family and friends are all staying safe.
Read moreGame Match - Football referees held not to be employed for tax purposes – the final whistle for HMRC?
In Professional Game Match Officials Limited v HMRC [2020] UKUT 147 (TCC), the Upper Tribunal (UT) confirmed that certain football referees and other match day officials were not employees of Professional Game Match Officials Ltd (PGMOL) and accordingly it did not have tax and NICs liabilities in respect of the officials in question.
Read moreFootball referees held not to be employed for tax purposes – the final whistle for HMRC?
Whether an individual is employed, or self-employed, for tax purposes is a question that has – in the era of the 'gig' economy and given the anticipated extension of the off-payroll working (IR35) rules – never required closer examination.
Read moreCOVID-19 and tax residence
This blog considers the potential risks posed by the COVID-19 pandemic to maintaining offshore tax structures.
Read moreCOVID-19 and tax residence
This blog considers the potential risks posed by the COVID-19 pandemic to maintaining offshore tax structures.
Read moreCOVID-19 forces HMRC to temporarily change its stamp duty processes
Yesterday (25th March) HMRC announced some "temporary" changes to its stamp duty processes, in light of the Covid-19 pandemic.
Read moreSpring Budget 2020 - main tax announcements
This blog discusses some of the key tax changes announced in last week's Budget, and subsequent tax developments.
Read moreNew year's (tax) resolutions
It's that time of year when people are abiding by, (re)assessing and / or breaking their new year's resolutions. It's no different in the world of tax.
Read moreCorporate tax update September 2019
This month’s update reports on the key developments from August 2019. Although this was a relatively quiet month in the corporate tax world, this update includes summaries of an important Upper Tribunal decision on the correct tax treatment of “trail commissions” and a First-tier Tribunal decision on the recovery of pre-incorporation input VAT.
Read moreDevelopment Securities – Jersey-incorporated SPVs held not to be UK tax resident
In Development Securities plc and others v HMRC [2019] UKUT 0169 (TCC), the Upper Tribunal (UT) has held that a number of Jersey-incorporated companies were in fact resident for tax purposes in Jersey. This decision overturned the decision of the First-tier Tribunal (FTT), which had held that the companies were UK tax resident as a result of the central management and control (CMC) of the companies being exercised in the UK (through the companies’ parent). The UT took the view that the FTT had incorrectly concluded that the Jersey company directors had abdicated their decision-making responsibility.
Read moreHannover - SDLT avoidance and corporate property deals – the importance of timing!
In Hannover v HMRC [2019] UKFTT 0262 (TC), the First-tier Tribunal (FTT) has held that the stamp duty land tax (SDLT) anti-avoidance rule in section 75A, Finance Act 2003, applied to a series of transactions that included the sale of units in a Guernsey property unit trust (GPUT), even though there was no tax avoidance motive and each transaction was 'appropriately' taxed.
Read moreStamp duty land tax (SDLT) avoidance and corporate property deals – the importance of timing!
The First-Tier Tribunal has, in a recent decision, caused something of a stir for clients and advisors familiar with the well-trodden (and, usually, tax-efficient) use of offshore unit trusts to hold UK property.
Read moreUK property – big tax changes for non-UK residents
From 6 April 2019, all gains from UK real estate realised on disposal by non-residents, whether residential or commercial property and whether by way of direct or "indirect" disposal, will be subject to UK capital gains tax or corporation tax.
Read moreSomething out of the ordinary (share capital)
The term ordinary share capital is widely used in UK tax provisions. While the term has a statutory definition a recent table by the Chartered Institute of Taxation shows how HMRC has interpreted it in practice.
Read moreProfessional Game Match Officials – football referees not employed for tax purposes
In Professional Game Match Officials Ltd v HMRC [2018] UKFTT 528, the First-tier Tribunal (FTT) has held that football referees and other match day officials were not employees of Professional Game Match Officials Ltd (PGMOL).
Read moreCorporate tax update
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly. In this second 2018 edition we highlight some of the key tax developments of interest to UK corporates from the second quarter of 2018.
Read moreGood news for UK share sellers - capital gains tax relief relaxed
The UK's entrepreneurs' relief (ER), which is already a valuable tax relief for individual UK-resident sellers of trading companies, is about to become a little more generous.
Read moreAction required: mandatory disclosure of cross-border tax planning arrangements – effective (very) soon
New EU rules providing for mandatory disclosure of certain cross-border tax planning arrangements by intermediaries and taxpayers will enter into force on 25 June 2018. Although reports to tax authorities will not be required until July/August 2020, the retrospective nature of the new rules means that reportable arrangements implemented after 25 June could be reportable in this first batch of (2020) reports. Preparations for the new regime should therefore begin now.
Read moreCorporate tax update
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly.
Read moreTax treatment of insurance SPVs – a cure for all ILS?
On 1 March 2016 the UK government published a consultation document on a new regulatory, corporate and tax framework for insurance linked securities (ILS) business.
Read moreTribunal criticizes HMRC’s refusal to allow retrospective VAT group application
The First-tier Tribunal (in Copthorn Holdings Ltd v HMRC) has asked HMRC to reconsider its decision to refuse a taxpayer’s application for retrospective VAT group registration. This is the second time HMRC have been asked to “think again” on their decision.
Read moreRisky business? VAT exemption limits for would-be insurance intermediaries
The latest case to consider the extent of the VAT exemption for "insurance intermediary" services has again highlighted the limits of the exemption.
Read moreSummer Budget – property developments
Last week's "summer" Budget, the first by a (solely) Conservative government for nearly two decades, was full of surprises but contained relatively few specific property tax measures.
Read moreBy George! A Budget full of surprises?
Last week's "summer" Budget, the first by a (solely) Conservative government for nearly two decades, included a number of surprises.
Read moreUK VAT changes following Skandia decision
On Tuesday this week, HMRC confirmed a change to the UK VAT treatment of intra-entity supplies of services, from 1 January 2016.
Read moreLimits on the VAT exemption for insurance intermediaries
A recent Tax Tribunal decision highlights the limits of the VAT exemption for supplies by an insurance intermediary.
Read moreRoot and branch changes to EU VAT rules on intra-entity supplies?
The European Court of Justice (ECJ) last week ruled that services provided by a US insurer to its Swedish branch were subject to VAT in Sweden. This widely reported decision is likely to have implications for insurers and other financial services groups across Europe.
Read moreLet's talk about VAT – a useful reminder
A recent Court of Appeal decision (CLP Holding Co Ltd v Singh and Kaur[1]) serves as a reminder to consider VAT during sale negotiations, and ensure that VAT wording in contracts is sufficiently clear.
Read moreTransfer of corporate profits – update
Earlier in the year I posted a blog on the proposed new anti-avoidance measure, targeted at so-called "profit transfers" from one group company to another.
Read moreNew anti-avoidance rule targeting transfers of corporate profits
This year's Finance Bill, which is expected to become law as the Finance Act 2014 in July, introduces a new anti-avoidance measure targeted at businesses operating through a group structure where there is in substance a significant "payment" of profits from one company to another.
Read moreBudget 2014 - update
Last week's Budget announcements were light on the property tax front.
Read moreBudget 2014 - update
Last week's Budget announcements were light on the property tax front.
Read moreAutumn Statement 2013 – George's Marvellous Medicine?
In the midst of the political point-scoring, last week's Autumn Statement was light on significant new tax announcements.
Read moreFinancial Transaction Tax – still a cause for concern?
The FTT was due to take effect from 1 January 2014. In June the European Commission quietly announced a delay of at least 6 months.
Read moreFATCA – are we nearly there yet?
The International Tax Compliance (United States of America) Regulations 2013 ('Regulations') came into force on 1 September 2013.
Read moreSDLT group relief anti-avoidance – good news from HMRC
Last week saw some (much needed) good news on the topic of SDLT avoidance, that should clarify HMRC's approach to the common commercial practice of transferring a property intra-group, following the acquisition of a property-owning company (PropCo).
Read moreSDLT avoidance - HMRC victorious regardless of taxpayer 'motive'
HMRC has scored a resounding victory in the first case[1] to consider in any detail the wide-ranging SDLT anti-avoidance provision (section 75A of Finance Act 2003).
Read moreThe new UK GAAR – a journey into the unknown?
The Finance Bill 2013 received Royal Assent on 17 July. We are now in uncharted territory.
Read moreProperty Rental Business Transfers and Leases – Reclaiming VAT and SDLT
Last November, following the decision in the case of Robinson Family Limited, HMRC announced that a transfer of a property rental business can qualify as a "transfer of a going concern" (TOGC) – and therefore not attract VAT – even if the transferor retains a reversionary interest in the property.
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