Tax

News

HMRC

HMRC finds a new legal head from Defra

HM Revenue and Customs has appointed a new general counsel, taking on the legal director of the Department for Environment, Food and Rural Affairs (Defra). Alan Evans will take on the top legal role at HMRC on 1 January 2019, advising on all aspects of tax law and leading its litigation team. He will also be […]

Osborne Clarke reels in Bird & Bird’s UK tax head

Bird & Bird’s head of UK tax Mathew Oliver has joined Osborne Clarke’s London office; the latest in a string of new recruits to the latter’s City operations. Oliver has been at Bird & Bird since 2005, joining as a partner from Lovells where he was an associate for three years. He was a tax […]

moves, lateral hires and exits

Greenberg partner rejoins KWM colleagues at DLA Piper

DLA Piper has lured Greenberg Traurig tax partner Clive Jones away from the US firm, in a move that reunites him with his former King & Wood Mallesons colleagues. Jones opted to move to Greenberg Traurig at the end of 2016 as it became clear that KWM’s London arm was close to falling into administration. […]

handshake

Mayer Brown fills tax gap with new partner hire

Mayer Brown has added former Nabarro partner Simon Rose to its tax practice in London, nearly a year after the departure of its lead City partner to Gibson Dunn & Crutcher. Rose joins Mayer Brown as its third tax partner in London. He started his career at SJ Berwin in 1994, working there until leaving to […]

Analysis

Sky HQ

Four things the Comcast deal tells us about City M&A

Over the weekend, nearly two years of tussling for UK media giant Sky came to an end when Comcast’s £30bn bid trumped 21st Century Fox.

But while magic circle firms maintain only they can act on big-ticket M&A, the variety of advisers on call was striking. Here’s what we learned.

Featured Briefings

Establishment of innovation scientific and technological centres in Russia and other incentives for participants

By Yana Dianova Since August 10, 2017, the Federal Law of July 29, 2017 No. 216-FZ has been in effect in Russia, providing for the legal basis for establishment and operation of innovation scientific and technological centres in order to implement the priorities of the scientific and technological development of the Russian Federation, increase the investment […]

Donating money to UKIP might lead to a heavy tax bill

By Aidan Grant Aaron Banks attempted to use the European Convention on Human Rights to argue that HMRC was wrong to charge £163,000 in inheritance tax on certain donations he made to UKIP. Putting to one side the irony of a major backer of UKIP and Brexit using the ECHR to obtain a favourable tax position, […]

Jersey lodges the draft Taxation Law 201

Jersey has lodged the draft Taxation (Companies – Economic Substance) (Jersey) Law 201- (the “Law”). The Law, once adopted, is intended to meet the commitment made by Jersey to address certain concerns raised by the EU Code of Conduct Group on Business Taxation (the “Code Group”) in relation to the need for relevant businesses to […]

VAT on share disposal costs recoverable in certain cases

VAT on costs incurred in connection with an envisaged share disposal is in principle not recoverable. However, if the reason for the disposal lies in the VAT taxed activities of the parent company, VAT on the disposal costs may be recoverable. Proper and timely documentation of such reasons will play a deciding role. This follows […]

Are you allowed Council Tax relief on a Holiday Let?

By Dominic Cole The Ministry of Housing, Communities and Local Government have opened a consultation into the ability for holiday lets to register for business rates, rather than Council Tax which has allowed over 45,000 properties to qualify for small business rate relief and therefore escape a charge completely. Properties are valued for business rates when […]

New world digital trade order is no mean feat

By David E Brennan The widely reported ­ and still ongoing ­ China­-US trade war is still very potent as the ‘tit for tat’ nature sees almost weekly retaliations by each country to respective trade tariffs on goods and services. Interestingly, our report on global protectionism has found that both are poles apart where levying […]

How to register a business in Astana International Financial Centre

The Astana International Financial Centre (AIFC) was launched on the 5 July 2018. It is a financial hub located in Astana, Kazakhstan. The aims of AIFC are to attract investment and bring in clients from Asia, Europe and the Middle East. AIFC offers a favourable environment to appeal to Western markets. Preferential tax regime, common […]

Dutch government publishes additional notes on legislative proposal to change the Dutch tax consolidation regime

On 2 November 2018, the Dutch government published additional explanatory notes regarding the pending legislative proposal to change the Dutch corporate income tax consolidation (fiscal unity) regime, the so-called ‘emergency repair measures’. Based on these measures, several provisions in the Dutch corporate income tax act (“CITA”) and the Dutch dividend withholding tax act must be […]

Switzerland – Amendment to article 14A SWTO

By Heini Rüdisühli, Frédéric Neukomm, Lukas Aebi Switzerland levies a 35 per cent withholding tax on interest paid on bonds and on bank interest. Conversely, Switzerland does not levy withholding tax on interest paid on ordinary loans. The comparably high withholding tax rate renders Swiss-issued bonds unattractive for foreign investors. Even though most Swiss double taxation agreements allow […]

Autumn Budget 2018 – An overview

By Lee Perry Chancellor of the Exchequer Phillip Hammond has given his final Budget before the UK is set to leave the EU. Here, IP and creative partner Laura Harper and employment partner Paula Rome discuss some of the key announcements in their respective sectors. Laura Harper: The chancellor announced that the UK would introduce […]

When is a corporate guarantee a distribution?

By Robert Edgar, Liz Sweeney In 2017 the ICAEW and ICAS suggested that an upstream or cross-stream guarantee might amount to a distribution of profits unless a fee was payable in return for the granting of the guarantee. The suggestion, in their joint guidance on Realised and Distributable Profits under the Companies Act 2006 (Tech […]

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