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Articles by Robert O'Hare
Sacramento Life Sciences & Healthcare CRE Summit
Why You Won't Want To Miss This Conference: • None How has pharmaceutical innovation and vaccine development impacted life sciences real estate in Sacramento? • None How are interest rates and supply chain issues impacting life sciences firms and healthcare systems? • None Where lies new life sciences and healthcare real estate investment and development opportunities?
Running to stand still: the state of play on international tax reform
Home >Articles > Running to stand still: the state of play on international tax reform Running to stand still: the state of play on international tax reform 14 December 2022 Ross Robertson and Robert O’Hare (BDO) report on the progress with international tax reform, including a recent breakthrough on Pillar Two.
Other cases that caught our eye: 14 October 2022
Home >Articles > Other cases that caught our eye: 14 October 2022 10 October 2022 PAYE liabilities after selling business: In S Siva v HMRC [2022] UKFTT 344 (TC) (20 September 2022) is a rather unfortunate case where something went wrong and the taxpayer didn’t fix it properly. A business was sold to an employee but the agents...
Further OECD consultation on Amount A
Home >Articles > Further OECD consultation on Amount A Further OECD consultation on Amount A 11 October 2022 The OECD is inviting comments on its Progress report on the administration and tax certainty aspects of Amount A of Pillar One. This report includes the rules on the administration of the new taxing right under Pillar One (in essence, how in-scope MNEs will comply with Amount A) and the associated tax-certainty framework provisions including dispute resolution mechanisms.
Cash accounting not available for reverse charge supplies
Home >Articles > Cash accounting not available for reverse charge supplies Cash accounting not available for reverse charge supplies 11 October 2022 HMRC’s updated VAT Notice 731 confirms that businesses cannot use the cash accounting scheme for supplies of goods and services that are subject to one of the domestic reverse charges.
HMRC v Aozora
Home >Articles > HMRC v Aozora HMRC v Aozora 10 October 2022 Unilateral relief for US withholding tax allowed when treaty relief not applicable In Aozora GMAC Investment [2022] UKUT 258 (TCC) (23 September 2022), the Upper Tribunal (UT) dismissed HMRC’s appeal, upholding the First-tier Tribunal (FTT) decision that the relevant legislation at the time, ICTA 1988 s 793A(3) (now found in TIOPA...
BMW Shipping Agents Ltd v HMRC
Home >Articles > BMW Shipping Agents Ltd v HMRC BMW Shipping Agents Ltd v HMRC 10 October 2022 Customs declarations determine which party is liable for import VAT In BMW Shipping Agents Ltd v HMRC [2022] UKFTT 335 (TC) (13 September 2022), the FTT held that a freight forwarder that had made customs declarations in its own name, rather than as agent, was liable for the import VAT. The reason for the decision...
Raiffeisen Leasing
Home >Articles > Raiffeisen Leasing Raiffeisen Leasing 10 October 2022 Sale and leaseback agreement could qualify as VAT invoice In Raiffeisen Leasing (Case C-235/21) (29 September 2022) the CJEU held that a written contract relating to a finance lease could, in principle, be regarded as a VAT invoice despite not containing all the elements formally required in VAT law. This...
HMRC manual changes: 7 October 2022
Home >Articles > HMRC manual changes: 7 October 2022 6 October 2022 This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxes Manual Page Comments Bank Levy Manual Updated: BKLM331200, BKLM361000,...
SME definition of employee threshold
Home >Articles > SME definition of employee threshold 6 October 2022 Prime Minister Liz Truss has announced plans to widen the regulatory exemptions for SMEs to businesses with fewer than 500 employees for future and reviewed regulations, and to consult on potentially extending the threshold to businesses with 1,000 employees after assessing the effect of the current extension. The EU generally defines SMEs as having fewer than 250 employees.
Call for evidence on net zero review
Home >Articles > Call for evidence on net zero review Call for evidence on net zero review 6 October 2022 The BEIS Secretary of State has commissioned an independent review of the government’s approach to delivering its net zero target by 2050 that is conducive to business and economic growth and has published a call for evidence that closes on 27 October 2022.
New Bilateral Advance Pricing Arrangement Manual
Home >Articles > New Bilateral Advance Pricing Arrangement Manual New Bilateral Advance Pricing Arrangement Manual 6 October 2022 The OECD has published a new (BAPAM) which is a guide for streamlining the BAPA process, an advance pricing agreements between two jurisdictions. The BAPAM provides tax administrations and taxpayers with information on the operation of BAPAs and identifies 29 best practices for BAPAs.
EU blacklist updated
Home >Articles > EU blacklist updated 6 October 2022 Anguilla, The Bahamas and the Turks and Caicos Islands has been added to the EU list of non-cooperative jurisdictions for tax purposes. Bermuda and Tunisia have been removed from the ‘grey list’ of jurisdictions with Armenia and Eswatini added.
Hybrid and other mismatch exemption to continue past 1 January 2023
Home >Articles > Hybrid and other mismatch exemption to continue past 1 January 2023 Hybrid and other mismatch exemption to continue past 1 January 2023 4 October 2022 HMRC briefly published a policy paper on 21 September, confirming the intention to issue new regulations to ensure continuation of the existing exemption from counteraction under the hybrid and other mismatch rules for certain hybrid capital and debt instruments issued by banks from 1 January 2023 (when it had originally been...
Other cases that caught our eye: 7 October 2022
Home >Articles > Other cases that caught our eye: 7 October 2022 29 September 2022 In Aozora GMAC Investment Ltd v HMRC [2022] UKUT 258 (TCC) (23 September), the UT agreed with the FTT’s decision that the relevant legislation at the time, ICTA 1988 s 793A(3) (now found in TIOPA 2010 s 11(3)), did not prevent the taxpayer from being...
Is it a dwelling? SDLT consequences
The status of a property as a ‘dwelling’ can be important in establishing liability for SDLT. Sometimes a property’s being a dwelling can be a Good Thing: sometimes a Bad Thing. For example, under multiple dwellings relief, SDLT is often reduced if it can be shown that a purchase includes two (or more) dwellings.
Repeal of IR35 reforms
Home >Articles > Repeal of IR35 reforms Repeal of IR35 reforms 5 October 2022 End-users won’t need to worry about the off-payroll working rules after April, but their wider obligations remain. In delivering his mini-Budget on 23 September 2022, the chancellor announced a wide-ranging series of tax cuts and reforms, with a focus on incentivisation, investment and making Great Britain more competitive on the global stage.
Spring-back to Spring Budgets
Home >Articles > Spring-back to Spring Budgets Spring-back to Spring Budgets 5 October 2022 The move back to a Spring Budget means more uncertainty for business and potentially less parliamentary scrutiny of the Finance Bill.
Salaried LLP members
Home >Articles > Salaried LLP members Salaried LLP members 5 October 2022 Jitendra Patel (BDO) provides a guide to the salaried members rules that were introduced in 2014 to deal with ‘disguised employment’ of members of limited liability partnerships. Limited liability partnerships (LLPs) were introduced by the Limited Liability Partnerships Act (LLPA) 2000, with effect from 6 April 2001. An LLP is a body corporate with separate legal personality, offering limited liability for its members but...
HMRC clarifies requirement to notify uncertain tax treatment
Home >Articles > HMRC clarifies requirement to notify uncertain tax treatment 4 October 2022 HMRC has revised its guidance on the requirement to notify an uncertain tax treatment. The section ‘’ has been updated to clarify the extent of the public authority exemption. Subsidiaries of a public authority are not exempt unless they are owned in full by a public authority or more than one public authority.
Government reverses 45p decision and brings forward statement
Home >Articles > Government reverses 45p decision and brings forward statement Government reverses 45p decision and brings forward statement 4 October 2022 The Chancellor has announced that the 45p additional rate of income tax will not be removed from 6 April 2023 as proposed in the 23 September mini-Budget, describing the proposal as a ‘distraction’ from the UK government’s ‘overriding mission to tackle the challenges facing our country’.
Land transaction tax changes announced
Home >Articles > Land transaction tax changes announced Land transaction tax changes announced 4 October 2022 The following changes will apply for residential transactions with an effective date on or after 10 October 2022: Nil-rate threshold increases to £225,000 (up from £180,000). The portion over £225,000 up to £400,000 is taxed at 6% (this band straddles the previous 3.5% and 5% bands). The other bands from £400,000 upwards are unchanged.
HMRC manual changes: 30 September 2022
Home >Articles > HMRC manual changes: 30 September 2022 28 September 2022 This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxes Manual Page Comments Capital Gains Manual Updated: CG63956 Paragraph...
Cases: Autumn 2022 review
Home >Articles > Cases: Autumn 2022 review Cases: Autumn 2022 review 29 September 2022 Our pick of interesting cases from the last quarter (listed below in chronological order). 1. First reported decision on the salaried members rulesIn BlueCrest Capital Management (UK) LLP v HMRC [2022] UKFTT 204 (TC) (reported in Tax Journal, 8 July 2022), the First-tier Tribunal (FTT) allowed the taxpayer’s appeal in part, finding that...
International review for September 2022
Home >Articles > International review for September 2022 International review for September 2022 28 September 2022 Tim Sarson (KPMG) reviews the international landscape, including renewed impetus to implement Pillar Two and the latest US tax developments. US: Inflation Reduction Act
On 16 August 2022, President Biden signed into law what is commonly referred to as the ‘Inflation Reduction Act of 2022’. The Bill was passed by the Senate on 7 August, followed by the House of Representatives on 12...
Fiscal event
Home >Articles > Fiscal event 27 September 2022 In last week’s fiscal event, Chancellor Kwarteng set out a new tax-cutting agenda marking a radical shift in tax policy. Measures include: cuts to income tax, the reversal of the NIC increases, the scrapping of the planned increase in corporation tax, a permanent £1m annual investment allowance, the unwinding of the 2017 and 2021 off-payroll working rules changes and cuts to SDLT. See page 12 for full details.
Growth Plan 2022: Eye-catching announcements for private clients
Home >Articles > Growth Plan 2022: Eye-catching announcements for private clients Growth Plan 2022: Eye-catching announcements for private clients 27 September 2022 Matthew Radcliffe (Charles Russell Speechlys) explains why the not so ‘mini-Budget’ will draw close attention from private clients and intermediaries around the world.
Growth Plan 2022: tax highlights
Home >Articles > Growth Plan 2022: tax highlights Growth Plan 2022: tax highlights 27 September 2022 A detailed guide to all the tax announcements, reported by Tolley and LexisNexis®PSL Tax, with additional practitioner comment. The chancellor of the exchequer, Kwasi Kwarteng, delivered his first fiscal statement, outlining the government’s plans for growth (the Growth Plan) on Friday, 23 September 2022. The Growth Plan ensures that the new prime minister, Liz Truss,...
Growth Plan 2022: Big, bold and brash
Home >Articles > Growth Plan 2022: Big, bold and brash Growth Plan 2022: Big, bold and brash 27 September 2022 It’s tempting to look at this ‘Budget’ as just a collection of giveaways and fulfilled promises that were made on the hustings trail. But there was more to it than that, writes Chris Sanger (EY). The statement that the chancellor, Kwasi Kwarteng, made to the House of Commons on 23 September was remarkable.
Chancellor reverses NICs increases
Home >Articles > Chancellor reverses NICs increases Chancellor reverses NICs increases 27 September 2022 As announced during the Chancellor’s mini-Budget on 23 September, the government is reversing its previous increases to National Insurance contributions with effect from 6 November 2022, and will scrap the health and social care levy before it comes into force.
New freeport tax sites designated
Home >Articles > New freeport tax sites designated New freeport tax sites designated 27 September 2022 The following Regulations designate areas in the Plymouth and South Devon Freeport and Solent Freeport as freeport tax sites with effect from 14 October 2022: Designation of Freeport Tax Sites (Plymouth and South Devon Freeport) (No 2) Regulations, SI 2022/972. Designation of Freeport Tax Sites (Solent Freeport) (No 2) Regulations, SI 2022/973.
Growth Plan 2022: Economics view
Home >Articles > Growth Plan 2022: Economics view Growth Plan 2022: Economics view 27 September 2022 The chancellor’s growth plan is reminiscent of Barber’s ‘dash for growth’ 50 years ago. That does not bode well, warns economist Duncan Weldon. Markets and analysts had been expecting the first fiscal statement from the new Truss government to follow through on her campaign pledges. The planned rise in corporation tax was widely expected to be scraped and April’s increase in NICs to be...
Spring-back to Spring Budgets
Home >Articles > Spring-back to Spring Budgets Spring-back to Spring Budgets 27 September 2022 The move back to a Spring Budget is disappointing and means greater uncertainty for business.
Growth plan 2022: The impact on SMEs
Home >Articles > Growth plan 2022: The impact on SMEs Growth plan 2022: The impact on SMEs 27 September 2022 There was undoubtedly some good news for business owners, although few specific tax incentives for business owners to invest. Jonathan Hickman (BDO) reports. It has been another tough year for business owners, and good news stories have been few and far between – but last week was rather better.
Growth Plan 2022: practitioner reaction
Home >Articles > Growth Plan 2022: practitioner reaction Growth Plan 2022: practitioner reaction 27 September 2022 The expected ‘mini-budget’ was not as expected. How did tax professionals react? In her campaign for leadership of the Conservative party, and thus Prime Minister, Liz Truss gave much prominence to her tax plans – creating clear blue water between herself and Rishi Sunak. She appointed Kwasi Kwarteng as chancellor and his...
New Bill to end EU-derived law in UK
Home >Articles > New Bill to end EU-derived law in UK New Bill to end EU-derived law in UK 27 September 2022 The UK government has introduced a new Bill which aims to end the status of retained EU law from the end of 2023, and enable the government to amend, repeal and replace retained EU law via secondary legislation.
HMRC updates August Employer Bulletin
Home >Articles > HMRC updates August Employer Bulletin HMRC updates August Employer Bulletin 27 September 2022 HMRC has updated its August 2022 Employer Bulletin to confirm a revised start date for the variable payment plan service. The service for employers to use the new variable Direct Debit payment plan will now be available from 3 October 2022 instead of 19 September 2022.
Growth Plan 2022: Issues for corporates - a maximalist mini-Budget
Home >Articles > Growth Plan 2022: Issues for corporates - a maximalist mini-Budget Growth Plan 2022: Issues for corporates - a maximalist mini-Budget 27 September 2022 While many of the policies announced last Friday sound simple, they are not complexity free, writes Sarah Osprey (Slaughter and May). Reducing tax bills by cancelling tax policiesBeing part of the government’s Growth Plan, the mini-Budget was (of course) focused on growth.
UK Importers Interpret EU Conflict Minerals Regulation
The initial Regulation (EU) 2017/821 of the European Parliament and of the Council laying down supply chain due diligence obligations for Union importers of tin, tantalum and tungsten, their ores, and gold originating from conflict-affected and high-risk areas (the EU Conflict Minerals Regulation) is aimed at reducing the financing of armed conflicts through the trade of valuable minerals.
Personal liability for PAYE, and all that Hoey (UK)
The Court of Appeal recently handed down its judgment in the Hoey case. The case is noteworthy because it helps illustrate the extent of HMRC’s powers to collect tax by shifting compliance obligations from one person to another. As can be readily appreciated, this could be particularly of note for directors of companies that have entered into an insolvency process.
Personal liability for PAYE, and all that Hoey (UK)
The Court of Appeal recently handed down its judgment in the Hoey case. The case is noteworthy because it helps illustrate the extent of HMRC’s powers to collect tax by shifting compliance obligations from one person to another. As can be readily appreciated, this could be particularly of note for directors of companies that have entered into an insolvency process.
Are You Ready for the UK Plastic Packaging Tax?
The plastic packaging tax (the ‘Tax’) came into force on 1 April 2022, with UK businesses which produce or import plastic packaging components in quantities of 10 or more tonnes per year affected. However, despite already being in force, research conducted by YouGov, on behalf of Veolia, has found that a high proportion of retail and manufacturing businesses (77% of those surveyed) are still not aware of the Tax.
(UK) In What Circumstances Can Directors be Personally Liable for Company Taxes?
A lot is said about directors’ duties – ensuring that they are complied with to avoid potential claims resulting in personal liability – and that remains the case. However, as officers of a limited liability company, directors should also be aware of the circumstances in which they could be personally liable for the company’s tax debts. Our new quick guide sets out the main circumstances in which directors and other officers can be held to be personally liable for company tax.
Business Recovery: How Should UK Companies Approach HMRC for Support?
As part of our business recovery and resilience series, our third video from Rob O’Hare (PSL in our Tax team), responds to the question: How should companies approach HMRC for support and what support might they expect? To listen to Rob’s answer click here. We will also shortly be releasing an alert explaining the situations when directors can be made personal liability to pay a company tax liabilities.
A Return from the Edge? A New Policy Statement from the UK Government on Commercial Rent Debts
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
Settling Tax Debts: How Much Support Will HMRC Provide To Your UK business?
Following the UK business secretary offering assurance that HMRC will take a ‘cautious approach’ to recovering tax debts (see our previous blog), HMRC has now published guidance outlining its approach. This guidance also explains how HMRC might respond where a business has taken advantage of one of the government backed lending schemes (such as a bounce back loan or CBIL) as well as outlining its approach to company voluntary arrangements. Can a UK business therefore expect HMRC’s support?
HMRC Announces Updated Approach to Pandemic Tax Debt Recovery
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
HMRC Announces "Cautious Approach" to Recovering UK Tax Debts
We highlighted in our previous blog, the pivotal role that HMRC could play in ensuring the survival of UK businesses when all COVID restrictions are lifted and the government’s various temporary support measures come to an end. The Business Secretary, Kwasi Kwarteng, has now assured business that HMRC will take a “cautious approach” to recovering tax debts that have accrued during the pandemic and will only use take steps to enforce payment as a last resort.
The Biden administration’s international tax proposals: will they fly?
During the past several weeks, the new President Biden administration has unveiled ambitious plans to upgrade America’s physical and social infrastructure, including proposals to raise needed revenue by increasing taxes on corporations generally and on multinational corporations in particular.
HMRC holds the trump card when it comes to UK business recovery
HMRC expect all UK taxpayers to pay the tax they owe, in full and on time, whenever they are able to do so. However, in circumstances where a taxpayer is unable to meet its liability, HMRC are able to exercise a discretion to allow the taxpayer to pay tax after the due date, over an agreed period, and without incurring late payment penalties. This is known as ‘Time to Pay’ (TTP). The primary purpose of TTP is to assist HMRC collect taxes due efficiently and effectively.
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