Daniel Hawthorne

Daniel Hawthorne

Dechert LLP

Contact  |  View Bio  |  RSS

Latest Publications

Share:

ECJ Ruling Opens Door To Withholding Tax Refunds

The European Court of Justice (ECJ), in the case of Brisal, has determined on 13 July 2016 that national law which prohibits a non-resident taxpayer from deducting financing/operating costs from interest withholding tax...more

7/21/2016 - Cross-Border Transactions Discrimination EU European Court of Justice (ECJ) Ireland Member State Portugal Tax Refunds UK Brexit Withholding Tax

Brexit – The UK and International Tax Consequences

The political, economic and constitutional fallout of the UK’s referendum decision to leave the European Union (Brexit) will continue for some time. In addition to considering some of the possible domestic UK tax implications...more

7/2/2016 - CFCs Controlled Foreign Corporations Corporate Taxes Customs Dividends EEA EU Exit Tax ICAV Income Taxes International Tax Issues Referendums Stamp Taxes Tax Treaty Transfer Pricing UK UK Brexit VAT

Financial Services Quarterly Report - Second Quarter 2016: OECD Common Reporting Standard: The Next Steps

The Common Reporting Standard (CRS) of the Organisation of Economic Co-operation and Development (OECD) came into effect on 1 January 2016 in “early adopter” jurisdictions, including the UK and popular fund jurisdictions such...more

7/1/2016 - Common Reporting Standard (CRS) Due Diligence Financial Institutions Investment Funds Investors OECD Reporting Requirements

UK Taxation Update for Investment Managers

The shifting sands of the taxation landscape for investment managers continues apace. Just when you perceive an oasis of stability on the horizon, it is revealed to be a mirage by the announcement of yet further changes....more

4/1/2016 - Anti-Avoidance Carried Interest Carried Interest Tax Rates HMRC Income Taxes Investment Management Management Fees UK

New Withholding Tax Exemption for Private Placements in the UK

Interest paid by UK companies is generally subject to withholding tax at 20%. Although various exemptions apply, most notably in respect of interest payments to banks and other UK companies, and in respect of securities...more

1/8/2016 - Corporate Taxes Exemptions Interest Payments Private Placements Securities UK Withholding Tax

Financial Services Quarterly Report - Fourth Quarter 2015: Further Change to the UK Taxation of Carried Interest

The UK Government, as anticipated, issued draft legislation on 9 December designed to establish clear rules as to when carried interest can qualify for favourable capital gains tax treatment. The draft legislation follows a...more

12/30/2015 - Capital Gains Carried Interest Carried Interest Tax Rates Financial Services Industry HMRC Investment Funds UK

Further Change to the UK Taxation of Carried Interest

The UK Government, as anticipated, issued draft legislation on 9 December designed to establish clear rules as to when carried interest can qualify for favourable capital gains tax treatment. The draft legislation follows a...more

12/11/2015 - Capital Gains Carried Interest Carried Interest Tax Rates HMRC Non-Domiciled Investors UK

The Common Reporting Standards - New Global Tax Information Exchange Regime Begins January 2016

The Common Reporting Standard (“CRS”) will impose new investor due diligence and reporting obligations on funds and other financial institutions based in “early adopter” participating jurisdictions, with effect from January...more

11/11/2015 - Common Reporting Standard (CRS) Cross-Border Transactions Due Diligence FATCA Financial Institutions Information Sharing International Tax Issues Investment Funds OECD UK

UK tax treatment of US LLC: HMRC’s practice following Anson

We reported earlier this year on the UK Supreme Court’s decision in HMRC v Anson, in which it was held that a UK taxpayer, Mr. Anson, was entitled to claim relief against his UK tax liabilities for US tax paid on his share of...more

10/1/2015 - Anson v HMRC Business Taxes Double Taxation HMRC LLC UK UK Supreme Court

Taxpayer wins landmark decision regarding the UK tax treatment of US LLCs

Following the taxpayer’s victory in the recent Supreme Court decision of HMRC v Anson, UK resident members of Delaware LLCs may now be entitled to claim relief against their UK tax liabilities for US tax paid on their share...more

7/9/2015 - Corporate Taxes IRS Limited Liability Companies Multinationals UK

Changes to the UK Tax Residence Rules for AIFs and Pitfalls to Avoid

In a previous article, we reported that draft legislation had been published to extend the scope of section 363A of the Taxation (International and Other Provisions) Act 2010 to ensure that alternative investment funds (AIFs)...more

10/14/2014 - Alternative Investment Funds Foreign Investment Foreign Investment Fund Tax Planning UK

Update on the EU's Proposed Financial Transactions Tax

The Court of Justice of the European Union (CJEU) recently issued a decision rejecting the UK government’s initial legal challenge against the proposed introduction of a financial transactions tax (FTT) in Europe. The...more

6/26/2014 - EU European Court of Justice (ECJ) Financial Regulatory Reform Financial Transaction Tax

UK Enters into Tax Agreements with the Cayman Islands and Other Offshore Jurisdictions

The UK and the Cayman Islands recently entered into an agreement to improve international tax compliance (ITC). Similar to the US Foreign Account Tax Compliance Act (FATCA), the ITC imposes wide-ranging UK financial reporting...more

3/27/2014 - FATCA International Tax Issues ITC UK

HMRC Consults on Tax Residence of Non-UCITS Funds Managed by UK Managers

HMRC has released a series of consultations regarding financial services taxation. The proposed measures are in line with the Government’s “UK investment management strategy”, a commitment announced in the 2013 Budget to...more

7/25/2013 - AIFM Asset Management Fund Managers HMRC Tax-Residency Certificate UCITS UK

HM Treasury Rethinks the UK Tax Treatment of Fee Rebates

In a Written Ministerial Statement made in UK Parliament on 21 May 2013, Treasury Economic Secretary Sajid Javid MP announced the Treasury’s intention to make a crucial and very welcome clarification to the recent HMRC Brief...more

5/22/2013

HM Revenue & Customs Consultation Document Poses Significant Tax Challenges for Investment Management LLPs

On 20th May, HMRC published a consultation document which proposes major changes to the taxation of partnerships in the UK. The consultation is particularly relevant to investment management LLPs – and especially to those...more

5/21/2013 - Corporate Taxes Income Taxes Investment Management LLPs Partnerships

Changes to the UK Tax Treatment of Fee Rebates and Trail Commissions

HM Revenue & Customs ("HMRC") this week made a surprise announcement regarding the tax treatment of fee rebates and similar payments made to UK investors in collective investment schemes and other investment products. The...more

3/29/2013

Financial Services Quarterly Report - First Quarter 2013: The European Financial Transactions Tax

The European Commission on 14 February 2013 adopted a proposal for a Directive1 authorising eleven countries – Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia (the “FTT Zone”)...more

3/26/2013 - EU European Commission Financial Transaction Tax

Recent ECJ VAT Decisions on Investment Management

Two recent decisions of the European Court of Justice (“ECJ”) on the VAT treatment of investment management services illustrate that this is still an area of some uncertainty that is continuing to evolve. The first decision,...more

3/19/2013 - EU Investment Adviser Investment Management Risk Management

Financial Services Tax - UK Update from Dechert's Tax Group - February 2013: Adoption of the European FTT

On 22 January 2013, the Council of the European Union adopted a decision authorising eleven countries - Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia — to proceed with the...more

2/15/2013 - EU Financial Transaction Tax

Financial Services Tax – UK Update from Dechert’s Tax Group - February 2013: Privilege and Prudence

Legal advice privilege has seized the focus of attention yet again, as a result of the UK Supreme Court’s decision in Prudential delivered on 23 January 2013. In overview, Prudential sought to withhold documents including...more

2/14/2013 - Accountants EU HMRC Legal Advice Privilege Prudential

Financial Services Tax – UK Update from Dechert’s Tax Group - February 2013: Get Ready for the GAAR

Draft clauses to introduce a new general anti-abuse rule (GAAR) into the UK tax code were published as part of the Finance Bill 2013 on 11 December 2012. Some form of general anti avoidance rule was first seriously canvassed...more

2/12/2013 - Anti-Abuse Rule EU GAAR Tax Avoidance

Financial Services Tax – UK Update from Dechert’s Tax Group: Rule Changes Yield Mixed Blessings for UK Investors in Offshore Funds

UK investors in closely held offshore funds can be directly liable for tax if the fund makes a gain on an underlying asset even if the gain is reinvested by the fund and not distributed to the investor. There is also the...more

2/11/2013 - Capital Gains Double Taxation Investors Liquidation Offshore Funds Privately Held Corporations

Financial Services Tax – UK Update from Dechert’s Tax Group - February 2013: FATCA Update – No Duplicate Reporting for Investment...

Following the execution of an inter-governmental agreement (or “IGA”) with the United States in September 2012 and a consultation exercise which closed in late 2012, HM Revenue & Customs (“HMRC”) recently published draft...more

2/8/2013 - EU FATCA HMRC Intergovernmental Agreements Investment Funds Investment Management IRS Partnerships

Real World - January 2013

Welcome to the Winter edition of Real World from Dechert’s London Finance and Real Estate Group, keeping you up to date with recent developments in real estate law and practice. In this issue: - An A-Z for 2013 – A...more

1/29/2013 - Anti-Avoidance EU Higher-Priced Mortgage Loans Judicial Review

25 Results
|
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×