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Denial of input VAT deduction for failure to identify a connection with VAT fraud Court of Appeal in Mobilx rejects HMRC test of knowledge but requires traders to consider the circumstances of each trade or transaction

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • October 18 2010

It was reported on 7 September 2010 that HMRC have identified the first cases of attempted VAT fraud in the wholesale gas and power markets

Review of 2009 and preview of 2010

  • Herbert Smith Freehills LLP
  • -
  • European Union, United Kingdom
  • -
  • January 15 2010

The transition from 2009 to 2010 sees some significant legislative chapters closing, notably the Companies Act 2006, Rome I and II, the Banking Act 2009 and the Lisbon Treaty

Preview 2013 (UK law)

  • Herbert Smith Freehills LLP
  • -
  • European Union, United Kingdom
  • -
  • January 15 2013

2013 will herald some significant changes to the UK legal arena, notably in the corporate area in relation to executive remuneration and narrative

North Sea tax changes: undoing some of the damage...

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • July 6 2011

The Government has offered oil and gas explorers a welcome increase in the Ring Fence Expenditure Supplement (RFES

Timeline - a guide to the legal milestones ahead

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • October 10 2011

This is a guide to key legal developments in the coming months and years ahead

UK Treasury announces targeted tax reliefs for older gas fields (07 September 2012)

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • September 7 2012

The Chancellor of the Exchequer today announced new targeted tax reliefs for brown field areas, aimed at incentivising investment in, and supporting continued production from, older oil and gas fields in the North Sea

Development of gas fields - targeted tax reliefs announced

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • July 26 2012

Eligible fields are those whose development is authorised for the first time on or after 25 July 2012, with a share of gas reserves greater than 95 based on the central estimates of oil and gas reserves at the time of development authorisation, and with water depth less than 30 metres

Budget 2012: the impact on North Sea oil and gas

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • March 23 2012

The Chancellor of the Exchequer handed down the 2012 Budget on the 21st of March, saying the Government would not settle for a 'do nothing' Budget, but what did it do for North Sea oil and gas?