All articles by Julia Lloyd

Julia Lloyd

Avoid being caught out avoiding

A new anti-avoidance provision will be introduced by the Finance Bill 2012 into the UK capital allowances regime with effect from 1 April 2012 (for corporation tax purposes) or 6 April 2012 (for income tax purposes) This provision will be both more comprehensive and more subjective than the existing rules in relation to avoidance and, as a result, the implications of the new test will need to be taken into account in a wider range of circumstances.

ECJ: leasing not VAT abusive

The European Court of Justice (ECJ) has given its judgment in the Weald Leasing Ltd (Weald Leasing) case, broadly following the opinion of the Advocate General, concerning the scope of the abuse principle in the context of the recovery of UK input tax.