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Results: 1-10 of 60

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


Tax effect of BREXIT - May 2016
  • Herbert Smith Freehills LLP
  • European Union, United Kingdom
  • May 26 2016

This article has been prompted by the current debate and forthcoming referendum in the UK on the UK's membership of the European Union ("EU") and


Supreme Court applies purposive construction to defeat bank bonus tax avoidance schemes
  • Herbert Smith Freehills LLP
  • United Kingdom
  • March 10 2016

The decision of the Supreme Court in two appeals concerning the effectiveness of bonus arrangements involving allocations of restricted securities to


Retrospective tax legislation: compatible with the European Convention on Human Rights ("ECHR")
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 31 2015

Retrospective legislation, seeking to close a tax loophole relating to Stamp Duty Land Tax ("SDLT"), did not engage rights under the ECHR to the


Legal advice privilege: only for lawyers
  • Herbert Smith Freehills LLP
  • United Kingdom
  • October 13 2010

The Court of Appeal has today handed down judgment confirming that legal advice privilege does not apply to any professional other than a qualified lawyer, i.e. a solicitor or barrister, or an appropriately qualified foreign lawyer: R (on the application of Prudential PLC & Anor) v Special Commissioner of Income Tax & Anor 2010 EWCA Civ 1094


Davies, James and Gaines-Cooper Supreme Court found HMRC guidance on residence in booklet IR 20, properly construed, did not mean what the taxpayers contended it meant
  • Herbert Smith Freehills LLP
  • United Kingdom
  • October 28 2011

It was a majority verdict 4 against 1, the leading speech was delivered by Lord Wilson, Lords Hope, Walker and Clarke supporting and Lord Mance dissenting


"Extreme shopping": HMRC legislation to counter treaty shopping: thoroughly draconian
  • Herbert Smith Freehills LLP
  • United Kingdom
  • August 5 2011

On 1 August, just before the summer break, HM Revenue & Customs (HMRC) published a "Technical Note" and draft legislation (together, the "Note") entitled "Tax Treaties Anti-avoidance"


HMRC v Philips Electronics UK Limited
  • Herbert Smith Freehills LLP
  • European Union, United Kingdom
  • September 7 2012

On 6 September 2012 the CJEU delivered a clear ruling in favour of Philips, confirming that the UK provisions which prevent losses of UK branches of non-UK resident companies from being surrendered for group relief (section 107 CTA 2010 condition C, formerly section 403D(1)(c) ICTA 1988) constitute an unjustified restriction of the freedom of establishment under EU law


HMRC wins appeal in penalties for late VAT payments
  • Herbert Smith Freehills LLP
  • United Kingdom
  • January 10 2013

In accordance with the highly prescriptive provisions in the VAT legislation, a company may be in default of a liability to pay VAT if HMRC does not


Autumn Statement 2012
  • Herbert Smith Freehills LLP
  • United Kingdom
  • December 5 2012

Today, the Chancellor of the Exchequer handed down his Autumn Statement