03/31/2023
No UK green tax policy review following Skidmore ‘very disappointing’
A permanent extension of the £1 million annual investment allowance (AIA) was also announced by the chancellor at the Spring Budget.
Tax
03/27/2023
Greenberg Traurig Launches State & Local Tax Podcast ‘GeTtin’ SALTy’
With most legislatures in session, Scarborough and Dobay have a lively conversation, touching on the key state and local tax legislative items state policy makers are currently considering as well as a few they are not.
03/27/2023
HMRC permitted to disclose taxpayer information to another taxpayer, court finds
The question before the Court of Appeal arose from an application from HMRC to the First-tier Tax Tribunal (FTT) for a direction permitting them to disclose to Bell information and documents.
03/24/2023
A snapshot of Hong Kong's proposed tax concession regime for family offices
The Bill is still under review by the Legislative Council of Hong Kong and this article refers to the provisions of the Bill as gazetted.
03/23/2023
New Condo-Hotel Tax Announced
Properties that are part of hotel rental pools previously enjoyed exemption from payment of real property tax
03/23/2023
ESG x Tax in the UK Spring Budget 2023
As noted in our overview of Budget measures here, there were a number of tax announcements dealing with environmental issues as the government seeks to meet its commitment to net zero.
03/22/2023
Advantages of Jersey / Guernsey companies as UK ‘qualifying asset holding companies’ (QAHCs)
A crucial requirement for QAHC eligibility is that the company is UK tax-resident, but not that it is a UK company.
03/21/2023
UK Budget delivers measured optimism
The life sciences sector also did better than some might have anticipated.
03/21/2023
UK defers aggregates levy changes
The generalised incidental extraction exemption, which was originally proposed by Pinsent Masons in response to a government consultation, will be welcomed by businesses in the infrastructure industry.
03/17/2023
Spring Budget 2023: calm after autumn storms
Once over the lifetime allowance, the excess is subject to a tax charge at 55 per cent on receipt of a lump sum and 25 per cent otherwise.
03/06/2023
CJEU: EU law no barrier to UK tax charge on intra-group transfers
All parties were agreed that the UK group transfer rules – within the intangible fixed assets regime and capital gains regime respectively
02/28/2023
NewsCorp Supreme Court VAT ruling has wide implications
NewsCorp argued that the underlying purpose behind the VAT zero-rating of physical newspapers carries through to digital versions of publications such as The Times and The Sun, for e-readers, tablets, phones and websites.
02/21/2023
Singapore to implement 15% minimum effective tax rate in 2025
BEPS refers to tax planning strategies that take advantage of tax loopholes and mismatches to shift profits indirectly to low-tax areas where there is little or no economic activity, or to erode the tax base via allowable deductions such as interest or ro
02/16/2023
HMRC issues in-depth guide to alternative tax dispute resolution
The decision rests with the mediator, so any taxpayer who specifically wishes to conduct an ADR meeting in person will need to make representations to the mediator early in the process.
02/15/2023
The British Virgin Islands and the EU List of Non-Cooperative Tax Jurisdictions
The BVI has requested a supplementary review to more accurately reflect the current legislative status with a view to having the BVI removed from the list as soon as possible.
02/15/2023
Notification of uncertain UK tax treatment by large businesses
This was not included in the final legislation in the 2022 Finance Act, although HMRC said that the government is committed to further consideration of this third trigger and could add it to the legislation later.
02/14/2023
UK: HMRC changes to notification process for opting to tax on land and buildings
Tenants and buyers will usually also ask to see evidence of the landowner's OTT, if they are going to be expected to pay VAT on their consideration given for the lease or purchase of the property.
02/08/2023
UK tax treatment of REITs
Qualifying property companies can elect for REIT status.
02/07/2023
Report on use of financial institution notices (FIN) published
They are one of HMRC’s tools for obtaining information about a person’s tax affairs.
02/02/2023
Tax and the British Virgin Islands: Separating Myth From Reality
The reality is that the British Virgin Islands has a robust anti-money-laundering and anti- terrorist-financing regime through the enactment of the Proceeds of Criminal Conduct Act 1997