Legal Precedents

[ To appear on the client’s headed paper or bearing the client’s logo] Status determination statement This status determination statement is issued in line with the requirements of section 61NA of the Income Tax ( Earnings and Pensions) Act 2003, and concerns the off-payroll rules. The off-payroll rules may apply where a worker (often described as a contractor) supplies their services through their own limited company (commonly called a personal service company, or PSC), or via another form of intermediary, to a client that is a public authority, or a medium or large private sector organisation with a UK connection. The rules take effect if a worker delivers services to a client through an intermediary but, if engaged directly, would be treated as an employee for tax purposes; they ensure such individuals pay broadly the same tax and National Insurance contributions ( NICs) as...

[ To appear on the client’s official letterhead or with the client’s logo] Off-payroll working ( IR35): confirmation of the size of our organisation On [ insert date request received ] you contacted us seeking confirmation of our organisation’s size for the application of the off-payroll rules for the tax year [ insert tax year ] as requested by you......

This Agreement is entered into on [ insert day and month ] 20[ insert year ] Parties [ Insert name of selling corporate entity ], a company incorporated in [ England and Wales OR [ insert country of incorporation ] OR with registered number [ insert company number ] ], whose registered office is at [ insert address ] (the Seller); [ Insert name of purchasing corporate entity ], incorporated in England and Wales OR [ insert country of incorporation ] OR with registered number [ insert company number ], with its registered office at [ insert address ] (the Buyer); [ Insert name of guarantor entity ], incorporated in England and Wales OR [ insert country of incorporation ] with registered number [ insert company number ], whose registered office is at [ insert address ] (the Guarantor) [ (each of the Seller, the Buyer and the...

1 Compliance 1.1 Returns The Company has, in a proper and timely manner, filed all [ material ] computations and returns (including all returns relating to land transactions), furnished every item of information, made all statements and disclosures, and served all notices on each relevant Tax Authority as reasonably requested or required by law for the purposes of Tax within applicable time limits. All such computations, returns, information, statements, disclosures and notices were prepared on an appropriate basis and, when lodged and as at the date of this Agreement, are complete, correct and accurate in all respects. None of the computations or returns are, or [ so far as the Seller is aware, ] are likely to be, the subject of any dispute with any Tax Authority. 1.2 Payment The Company has duly paid, within the applicable deadlines, all Tax for which it has become liable to pay or...

[ Insert client’s address ] 1 Purpose of this letter This letter sets out how income tax and National Insurance contributions ( NICs) apply when staff entertainment (for example, parties) and gifts are provided, and the implications for both employees and the employer. For the purposes of this letter, references to employees also include directors and other office holders, eg the company secretary, of the employing company. 2 Staff entertainment—income tax and NICs treatment Offering a party or staff event to employees will ordinarily create a taxable benefit for each individual, subject to income tax and Class 1A NICs. The benefit must be reported on the P11D, or covered by a PAYE Settlement Agreement ( PSA) if one is in place with HMRC. A PSA is used where the employer agrees to settle any income tax and the associated Class 1A NICs arising on the...

This instrument bears the date [ insert day and month ] 20[ insert year ] and is in respect of the loan notes referred to below. Parties [ Insert name of issuing company ] incorporated in England and Wales under number [ insert company number ] whose registered office is at [ insert address ] ( Issuer ) background: The Issuer has resolved to create, in aggregate, up to an overall nominal maximum of £[ insert number ] [ insert rate ]% [ subordinated ] redeemable loan notes, the same to be constituted in accordance with, and as set out in, this document, and constituted accordingly......

This Agreement is dated [ insert day and month ] 20[ insert year ]. Parties [ Insert name of selling corporate shareholder ], a company incorporated in [ England and Wales OR [ insert country of incorporation ] ], with company number [ insert company number ], having its registered office at [ insert address ] (the Seller); [ insert name of purchasing corporate entity ], a company incorporated in [ England and Wales OR [ insert country of incorporation ] ], with company number [ insert company number ], having its registered office at [ insert address ] (the Buyer); [ Insert name of guarantor entity ], a company incorporated in [ England and Wales OR [ insert country of incorporation ] ], with company number [ insert company number ], having its registered office at [ insert address ] (the...

ARCHIVED This Precedent is archived and is not maintained. The training pack comprises template Power Point slides that may serve as the basis for one or more training seminars introducing retained EU law. It is anticipated that those providing training will use the slides as a helpful starting point for their presentation(s), tailoring, adapting and amending them as appropriate to reflect their particular area of practice. The materials are customisable. Click the link below to download the presentation. Contents These training materials cover the following: What constitutes retained EU law? How is retained EU law described? What do the pertinent provisions state?......

Transfer of a going concern 1 The Seller and the Buyer both agree that the disposal and assignment of the Property, carried out in line with this Agreement, shall amount to the transfer of a business, or part of a business, as a going concern under section 49(1) of the Value Added Tax Act 1994 ( VATA 1994) and article 5 of the Value Added Tax ( Special Provisions) Order 1995, SI 1995/1268, with the result that the Property transfer is correctly treated as neither a supply of goods nor a supply of services for the purposes of VAT......

1 Anti-tax evasion facilitation Defined terms take their meanings from Part 3 of the Criminal Finances Act 2017. Corporate Failure to Prevent Tax Evasion Facilitation Offence means offences under sections 45 and/or 46 CFA 2017. Policies are the Customer’s anti‑tax evasion facilitation policies. Supplier Associated Person means the Supplier’s officers, employees, agents, subcontractors, subsidiaries, and persons Associated With them involved in the Services or this Agreement. The Supplier shall ensure neither it nor any Supplier Associated Person commits, causes or facilitates any UK or Foreign tax evasion offence, or the corporate failure to prevent offence, and shall not solicit such conduct in connection with the Services or this Agreement. The Supplier shall comply with the Policies and ensure Supplier Associated Persons do so; maintain reasonable Prevention Procedures; implement top‑level endorsed policies; deliver regular training; vet Supplier Associated Persons; keep accurate records of requests, permitted reports,...

This Agreement This Agreement is dated [ insert date ] Parties [ insert name of employee borrower ], of [ insert address ] ( Employee) [ insert name of employer lender ], a company incorporated in England and Wales with registered number [ insert company number ], whose registered office is at [ insert address ] ( Employer) The parties agree as follows: Definitions 1.1 In this Agreement, unless stated otherwise: Drawdown Date means [ insert date ]; Event of Default has the meaning given in Clause 6; Loan means the sum of £[ insert figure ] (£[ insert amount in words ]) to be advanced by the Employer to the Employee under this Agreement, to the extent not yet repaid; Repayment Date has the meaning given in Clause 4. The Loan 2.1 Subject to the provisions of this Agreement, the Employer will provide the Loan to the...

[ To be placed on the client’s letterhead or bearing the client’s logo] Status disagreement process This document outlines the procedure that [ insert name of client ] operates to consider any representations submitted by a Worker and/or a deemed employer where they believe that a status determination statement ( SDS), issued by [ insert name of client ] and provided in accordance with the requirements of section 61NA of the Income Tax ( Earnings and Pensions) Act 2003 ( ITEPA 2003) in relation to the off-payroll rules, is incorrect. Adhering to this procedure ensures that the duty contained in ITEPA 2003, s 61T is met. We use the term ‘ Worker’ to describe the individual who supplies services to us for one or more Engagements through an intermediary, being the Worker’s personal service company ( PSC). Where there is no direct contractual...

ARCHIVED : These training resources are stored as archive copies and are no longer updated. They cover the UK’s requirements for reportable cross-border tax arrangements as they applied before conclusion of the Brexit transition period, at 11pm on 31 December 2020......

This [ Deed OR Agreement ], dated [ • ] 20[ • ], is entered into by the Parties: 1 [ insert name ], a company incorporated in England and Wales with registered number [ insert company number ], whose registered office is at [ insert address ] (the [ Settlor OR Lender ]); and 2 [ insert name ] of [ insert address ] (the [ Trustee OR Borrower ])......

without prejudice and subject to contract The proposed [ Compensation OR Termination ] payment could attract tax deductions. This note explains the Employer’s approach to the tax and National Insurance contributions ( NICs) treatment to be applied to the proposed [ Compensation OR Termination ] Payment and any other payments outlined in the draft Settlement Agreement. Capitalised terms carry the same meanings as in the draft Settlement Agreement. HMRC will ultimately determine the tax and NICs payable. Accordingly, the Employer gives no warranty and makes no representation regarding any matters set out herein. Errors and omissions are likewise excepted. You should obtain your own independent advice regarding your tax position. The legislative framework governing the taxation of termination payments includes the concept of ‘post-employment notice pay’ ( PENP), which impacts the favourable tax treatment potentially available to termination payments (commonly referred to as the...

The Schedule Tax Covenant 1 Definitions and interpretation 1.1 Despite clause 1.3 of this Agreement, if any inconsistency arises between the provisions of this Schedule and those of the remainder of this Agreement, then the provisions of this Schedule shall prevail in relation to all matters relating to Tax......

1 Construction Industry Scheme—for use where the landlord’s contribution is a reverse premium The Landlord and the Tenant confirm that the Landlord’s Contribution is a reverse premium for the purposes of Income Tax ( Construction Industry Scheme) Regulations 2005, Regulation 20; so it is not a contract payment for purposes of Finance Act 2004, Chapter 3, Part 3, and shall be paid gross, without any deduction of tax under that legislation......

1 Capital allowances 1.1 In this clause 1: CAA 2001 denotes the Capital Allowances Act 2001. Plant or Machinery refers to items within the Tenant’s Works that qualify as plant or machinery for the purposes of Part 2 of CAA 2001. Landlord’s Contribution is £[ insert figure ] plus VAT (if any). SBA Assets describes those elements of the Tenant’s Works where the expenditure qualifies for structures and buildings allowances under Part 2A of CAA 2001. Special Rate Plant means Plant or Machinery for which the spend would be treated as special rate expenditure under CAA 2001, s 104A. Tenant’s Works means the Tenant’s [ fitting out works ] to be carried out at the......

1 Capital allowances—for use where the Seller has claimed a first-year allowance or pooled qualifying expenditure on plant and machinery fixtures and the parties will enter into a s 198/s 199 joint fixtures election on completion In this clause 1: CAA 2001 means the Capital Allowances Act 2001; Fixtures means all plant and machinery installed or otherwise affixed in or to the Property so as to become part of the Property at law, including any boiler or water‑filled radiator under section 173(1) of CAA 2001; HMRC means HM Revenue & Customs; Main Pool Plant means those Fixtures included by the Seller in the main pool under section 54 of CAA 2001; ...

The Schedule Tax Covenant 1 Definitions and interpretation 1.1 Despite clause 1.3 of this Agreement, if any inconsistency or conflict arises between this Schedule's provisions and those elsewhere in this Agreement, the provisions of this Schedule shall prevail at all times in relation to all matters relating to Tax......