Rebecca Wallis
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The Office of Tax Simplification (OTS) has published its first report following its review of certain aspects of the UK’s capital gains tax regime requested by the Chancellor in July this year with the specific purpose of identifying opportunities relating to technical and administrative issues as well as areas where the present rules can distort … Continue Reading
In Dodika Ltd & Ors v United Luck Group Holdings Limited, the High Court (HC) has accepted the sellers’ argument that a notice of a tax claim under a tax covenant served on them by the buyer was invalid because it did not contain the level of information required by the provision in the related … Continue Reading
As part of the UK’s Budget 2020, the Treasury has announced a range of measures aimed at assisting UK businesses, in particular small and medium sized businesses (SMEs), in tackling disruption caused by the coronavirus (COVID-19) outbreak. The UK government will be hoping that such measures assist in lessening any longer term economic impact caused … Continue Reading
There has been another development on the tricky but important subject of whether the rights attaching to preference shares mean that they are or are not ordinary shares for entrepreneurs’ relief (and other tax) purposes. Recent cases have shown that share with no right to a dividend are ordinary shares. HMRC has published its view … Continue Reading
The proposed amendment to entrepreneurs’ relief (“ER”) in Finance Bill 2019 is designed to address one of the outstanding issues with the current law when dilution of a company results in the loss of ER. Under the current rules, a shareholder who has held, for at least 12 months prior to disposal, at least 5% … Continue Reading
New OTS report recommends changes to UK’s capital gains tax regime
By Stephen Pevsner and Rebecca Wallis on Posted in In the news, Tax Reform, UK Tax
High Court decision highlights importance of ensuring claims notices include required information
By Stephen Pevsner and Rebecca Wallis on Posted in UK Tax
The UK Budget and Coronavirus
By Rebecca Wallis on Posted in In the news, UK Budget
Are fixed rate preference shares “ordinary share capital” for entrepreneurs’ relief – more or less certainty?
By Rebecca Wallis and Stephen Pevsner on Posted in UK Tax
Finance Bill 2019 – Proposed relaxation of entrepreneurs’ relief rules
By Robert E. Gaut and Rebecca Wallis on Posted in UK Tax
