ANALYSIS

Cutting edge analysis on tax issues.

Alan Rafferty Ollie Winters Jade Du Berry

The High Court has confirmed that HMRC do not have a veto over restructuring plans. Alan Rafferty, Jade Du Berry and Ollie Winters (Milbank) examine the implications of Waldorf, including HMRC’s constitutional arguments, the treatment of tax losses and the evolving approach to cross-class cram downs.

Georgia Hicks

Following the remitted PGMOL decision, barrister Georgia Hicks (Devereux Chambers) explores where the employment status battleground now lies, and why the third stage of the RMC test has become more important than ever.

Daria Nikitina

Simon Down

Benefit in kind rates remain attractive for electric vehicles, but are only part of the picture. Simon Down and Daria Nikitina (Deloitte) explain why employers should adopt a total cost of operation approach to fleet strategy.

Katie Oliver

Gary Barnett

This month’s review by Katie Oliver and Gary Barnett (Simmons & Simmons) covers VAT and transfer pricing after Stellantis Portugal, input tax repayment disputes and a reminder that overcharged VAT cannot normally be reclaimed directly from HMRC by the customer.

Waqar Shah

HMRC have indicated that they intend to update their litigation and settlement policy later this year. Waqar Shah (Kingsley Napley) considers why the policy is ripe for change.

Kyle Rainsford

What happens when tax planning appears to exploit a loophole? Kyle Rainsford (Addleshaw Goddard) reviews the courts’ anti-avoidance toolkit following the HC-One SDLT ruling.

Alice Martin Elena Dunn Carolyn Steppler

Alice Martin, Elena Dunn and Carolyn Steppler (Charles Russell Speechlys) consider the UK tax and practical risks arising from offshore trust loans, including unexpected IHT exposure, settlor charges and the consequences of irrecoverable debts.

Tim Sarson

Tim Sarson (KPMG) reviews fresh OECD Pillar Two guidance, the CJEU’s latest VAT and Transfer Pricing decision, growing interest in Digital Services Taxes and Canada’s delayed implementation of the Under-Taxed Profits Rule.

Ben Elliott

Louis Triggs

Ben Elliott and Louis Triggs (Pump Court Tax Chambers) set out the three conditions for invoking the Inco principle, the factors that determine its application in practice, and the role it may play as Brexit-era drafting and rapid legislative change generate more disputes.

Nick Thornton

Nick Thornton (Fried Frank) argues that HMRC’s proposed expansion of the UTT regime is the wrong answer to the wrong question, and should be withdrawn.

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