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Sempra Metals Ltd v Inland Revenue Commissioners [2007] UKHL 34 is a UK tax law case, concerning the availability of compound interest upon personal claims. The effect of the case, decided by a majority, was to reverse the outcome of Westdeutsche Landesbank Girozentrale v Islington LBC.
An advance tax ruling is a tool for multinational corporations and for individual taxfilers for clarifying and conforming particular taxation arrangements. A written interpretation of tax laws is issued by tax authorities to corporations and individuals who request clarification of taxation arrangements.
A non-domiciled UK resident earning less than £2,000 in a year outside the UK does not pay tax on this unless it is transferred to the UK. This would apply to the typical person taking up a temporary job in the UK, being paid, and paying tax on it, in the UK, with possible additional small earnings in the home country.
Higher borrowing costs could slow the UK economy and also put pressure on the UK government to cut public spending or raise taxes in order to keep within its chosen borrowing rules.
The UK government has given its strongest signal yet that it will seek exemptions from tariffs being threatened on British steel entering the US. US President Donald Trump has announced 25% taxes ...
UK Tax Law, Value Added Tax: Judgment following a referral to the Court of Justice of the European Union [d] (CJEU) in a previous supreme court case (see 2020 UKSC 15). The CJEU had confirmed that a trader could not recover VAT on supplies made to it where the original supplier and HMRC had mistakenly treated the original supplies as exempt ...
Tax authorities of most major countries have entered into unilateral or multilateral agreements between taxpayers and other governments regarding the setting or testing of related party prices. These agreements are referred to as advance pricing agreements or advance pricing arrangements (APAs). Under an APA, the taxpayer and one or more ...
Finance Act 1965 [1] replaced this structure for companies and associations with a single corporate tax, which took its basic structure and rules from the income tax system. Since 1997, the UK's Tax Law Rewrite Project [2] has been modernising the UK's tax legislation, starting with income tax, while the legislation imposing corporation tax has ...