- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

‘Fixed establishment’ concept clarified in EU VAT ruling

It is for the Romanian regional court to apply the CJEU’s case law to the circumstances in the Adient case to determine the outcome of that dispute.

When the tax tribunal can intervene to fix your mistakes

Rectification is usually pursued through an application to the High Court

UK General Election: Voting in UK elections as a non-UK tax resident

To vote in a General Election while resident outside the UK, an individual must be aged 18

The Labour manifesto – key tax policies explained

The manifesto is silent in relation to capital gains tax and we consider that there is scope for the rate of capital gains tax to be increased, but this not mentioned in the manifesto.

Employment tax update - June 2024

Eligible men born after 5 April 1951 and women born after 5 April 1953, have until 5 April 2025 to pay voluntary National Insurance contributions

UK tax authority ‘particularly vigilant’ on transfer pricing, figures show

A total of 153 transfer pricing cases were settled during the year running to 31 March 2023.

Upper Tribunal rules on taxpayer liability for fixed penalty

Due to delays in issuing, HMRC had changed the date of compliance with the tribunal-approved information notice.

Simmons & Simmons: VAT Insights - June 2024

A round up of the Simmons & Simmons insights on VAT developments over the last month.

New Luxembourg tax bill aims to implement several income tax law changes

A provision in the draft bill sets out the obligations for the Luxembourg company reducing its share capital

Experts call for more consistency across tax regimes as UK considers reform

One area of variation suggested is HMRC’s powers for value added tax (VAT) and other indirect taxes.

Irish employers should review worker taxation classifications

This will be particularly relevant for businesses in certain sectors where Irish Revenue is likely to closely scrutinise the relationships with workers going forward.

Get up to speed with ESOP changes for 2024 in Ireland

This briefing summarises some of the main unapproved share option schemes available to companies in Ireland.

HMRC ‘dual role’ agents guidance of limited help to football clubs

Robotham was commenting after HMRC issued promotional material titled ‘Help with football agents' fees and dual representation contracts

Unallowable purpose and utilising existing losses

Arrangements entered into to enable a group to utilise trapped losses more quickly had an unallowable purpose.

IRS Issues New Ruling Policy on Spin-Off Transactions

New IRS Revenue Procedure Changes Ruling Practice for Retained Stock and Securities, Tax-Free Stock-for-Debt Exchanges and Debt Securities-for-Debt Exchanges

California property tax and Proposition 19

The $1 million non-principal residence exclusion would be eliminated entirely.

Important considerations when receiving an inheritance

Governing agreements often include restrictions on the rights of members to withdraw their interests

Foreign dividends reform ‘a boost Ireland’s holding company credentials’

The proposal is to apply the exemption to “foreign dividends and other types of distributions that represent income

VAT anti-abuse and domestic presumptions

Rebuttable presumptions based on the volume of turnover were an inappropriate and illegal basis for applying the abuse of law principle