Insights & News

Tax treatment of termination payments – simplification at last?

29 November 2016

The Chancellor’s Autumn Statement included some welcome news regarding the forthcoming reform of the tax and national insurance (“NI”) treatment of termination payments. The Government launched a consultation to simplify the rules in 2016.

New PAYE and NIC rules for ‘off-payroll’ workers in public sector confirmed

29 November 2016

In May 2016, the Government published a consultation paper outlining proposals to amend the IR35 legislation for workers who provide services, via a personal services company (“PSC”), to a public sector engager, whether directly or through a third party (such as an employment agency or outsourcing firm).

Sleight of Ha(mmo)nd: Autumn Statement 2016

24 November 2016

I was all ready to write about how the Autumn Statement was an audacious piece of misdirection, using a flashy reduction of corporation tax (to the much-rumoured rate of 15%, or maybe lower) to detract from less welcome announcements.

Tax treatment of termination payments - the sting in the tail

16 August 2016

In 2015, the Government launched a consultation to simplify the tax and national insurance (“NI”) treatment of termination payments. As previously reported, following that consultation the Government announced that it proposed to amend the rules with effect from 6 April 2018.

UBS and Deutsche Bank tax cases: HMRC wins in Supreme Court

Press

24 March 2016

Recently the Supreme Court handed down its decision in the UBS and Deutsche Bank bonus tax avoidance cases. After the banks had succeeded in the Court of Appeal, the Supreme Court decided that in fact a “purposive interpretation” of the legislation meant that the schemes failed. HMRC therefore won and millions of pounds of PAYE and NIC will have to be paid. However the case is most interesting for the approach the Supreme Court takes. It shows the extent to which the courts are sometimes prepared to go in interpreting the legislation in such a way that tax avoidance schemes will not succeed. Lewis Silkin tax expert Matthew Rowbotham wrote about the case for the April 2016 issue of PLC Magazine.

Lewis Silkin advises 3 Monkeys on sale to Zeno Group

Deal

17 February 2016

Lewis Silkin has advised 3 Monkeys Communications Limited, one of the UK's biggest independent PR agencies, on its sale to global consultancy network Zeno Group, the sister agency of Edelman.

Remuneration in financial services - new rules on deferral and clawback

29 June 2015

New rules on deferral and clawback of variable remuneration are set out in a joint policy statement issued by the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”). They will apply to variable remuneration awarded for performance periods beginning on or after 1 January 2016.

Lewis Silkin advises France-based Raja Group on acquisition of Morplan, mail order distributor to UK’s retail and fashion industry

Deal

19 March 2015

Lewis Silkin has advised France-based Raja Group, the leading European industrial packaging distributor, on its acquisition of Morplan, the number one B2B mail order distributor to UK’s retail and fashion industry.

Streamlining partnership: The wider impact of the UK LLP tax changes

Press

13 June 2014

In an article for Managing Partner, Fergus Payne discusses the impact of controversial UK LLP tax changes.

Finding your way to the exit - preparing the agency for sale

Press

25 April 2014

In an article for BrandRepublic, Matthew Rowbotham discusses the essential questions that agencies thinking about a sale should ask themselves.

Bankers' bonuses: Curbing excess

Press

14 June 2013

In an article written for PLC Magazine, Colin Leckey, Victoria Goode and Ailsa Murdoch discuss a recent ruling that investment bank Dresdner Kleinwort must uphold a promise made at the height of the financial crisis to guarantee a minimum €400 million bonus pool to a group of bankers at its London office.

Thorny problems

Press

17 April 2013

In an article for Taxation magazine, Sara Cohen discusses the Office of Tax Simplification's proposals for unapproved share schemes.

Tax experts note holes in planned rights for shares scheme

Press

12 October 2012

Simon Allum comments on George Osborne's 'rights for shares' scheme in an article for Thomson Reuters.

Multiple attraction

Press

03 February 2012

Sara Cohen considers the single contract multiple completion route in relation to private company share buybacks.