In 2027, the UK will introduce a carbon border adjustment mechanism (CBAM) on imports of certain carbon intensive goods. The CBAM will impose a charge on the emissions embodied in relevant imports that take place on or after...more
4/5/2024
/ Carbon Emissions ,
Environmental Policies ,
EU ,
HMRC ,
Imports ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Taxation ,
UK ,
Value-Added Tax (VAT)
In 2003, the UK Government introduced the CITR scheme to provide private investors with a significant tax incentive to finance enterprises within disadvantaged communities through accredited CDFIs. Whilst a similar scheme is...more
The UK has finally confirmed that it will be following the EU and introducing its own Carbon Border Adjustment Mechanism (CBAM) to be implemented by 2027.
It published the eagerly awaited outcome of its consultation on...more
Decarbonisation is the process of reducing greenhouse gas emissions and transitioning to a low-carbon economy. Decarbonisation requires significant investment in green technologies, such as renewable energy, energy...more
12/15/2023
/ Carbon Capture and Sequestration ,
Climate Change ,
Electric Vehicles ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Investment ,
Popular ,
Renewable Energy ,
Technology ,
Technology Sector ,
UK
Born of the OECD’s base erosion and profit shifting (BEPS) project, the Pillar Two rules introduce a global minimum corporate tax rate of 15% on multinationals of a certain size.
The reforms reflect the outcome of an...more
We recently hosted an event as part of our Sustainable Transition seminar series titled “Tax incentives for sustainable investments: where are the opportunities?”. In this article, our panellists set out some of the key...more
Across the world, governments are increasingly focusing on using tax measures to address ESG issues. In the UK, whilst it may not have been front and centre of the Chancellor’s speech on Budget Day, you don’t have to look too...more
UK Chancellor Jeremy Hunt delivered his first full Spring Budget on Wednesday 15 March. It is interesting (that is, interesting in a rather specific tax context) that, despite the fiscal volatility of 2022, this was in fact...more
2023 is set to be a year of change for the global tax landscape. After many years of negotiation, development and consultation, implementation of the OECD’s Pillar One and Pillar Two reforms to international taxation is now...more
The UK government has used the opportunity of its Autumn Statement 2022, delivered on 17 November, to confirm that the Finance Bill 2022 will include legislation introducing a 15% global minimum corporation tax rate, to have...more
On 20 December 2021, the OECD published keenly awaited model rules designed to implement Pillar Two of its ambitious plans to reform international taxation. ...more
To date, 132 jurisdictions have committed to the OECD’s two-pillar plan to reform international tax rules, as set out in its statement of 1 July 2021. Although the genesis of the proposed reforms relates to the taxation of...more
In this Great Investor Insights alert, our tax specialists examine the key issues to be taken into account by global institutional investors, fund managers and corporates in structuring UK inbound investment in the current...more
The UK government is pressing ahead with its proposal to require large businesses to notify their “uncertain tax positions” to HMRC.
...more
At a time of increasing disputes involving accounting evidence, this case debunks a number of assumptions about the approach taken by both HMRC and the First-tier Tribunal. HMRC do not always instruct their own employees as...more
Two new corporate criminal offences come into force on 30 September 2017. The new offences can make a company criminally liable if it fails to prevent the facilitation of UK or non-UK tax evasion by an employee, agent or...more
The Criminal Finances Act 2017, which received Royal Assent last week, contains the largest expansion of UK corporate criminal liability since the Bribery Act 2010 and one of the most significant overhauls of money laundering...more
A proposed new UK law contains the largest expansion of UK corporate criminal liability since the Bribery Act 2010 and one of the most significant overhauls of money laundering and proceeds of crime legislation in the last...more
HMRC published a discussion paper on 8 August 2016 setting out how the UK’s plant and machinery lease taxation rules might be changed in light of IFRS 16, the new accounting standard for leases.
Responses to the paper...more
On 1 January 2016, a new exemption from UK withholding tax for interest paid on “qualifying private placements” came into force.
The conditions to the new exemption focus on various attributes that HMRC consider to be...more
On 28 January 2016 the EC published a proposal for a so-called Anti-Tax Avoidance Directive. If implemented it would apply to all taxpayers who are subject to corporate tax in an EU Member State, including corporate taxpayers...more
2/24/2016
/ BEPS ,
CFC ,
Corporate Taxes ,
Court of Justice of the European Union (CJEU) ,
EBITDA ,
EU ,
European Economic Area (EEA) ,
Exit Tax ,
Foreign Corporations ,
GAAR ,
Member State ,
OECD ,
Tax Avoidance ,
UK
Today’s Autumn Statement saw financial institutions hit by a surprise proposal to limit the proportion of their profits which can be reduced by the carry forward of past losses, which will mean tax is paid on those profits...more
The UK was challenging the legality of the decision taken by the Council of the European Union to authorise the enhanced cooperation procedure (ECP) to establish an FTT for a subgroup of willing Member States. The UK, and a...more