JHA Associate Helen McGhee contributes multiple chapters to the 37th edition of Revenue Law: Principles and Practice
JHAs senior associate Helen McGhee has contributed five chapters to the latest edition of Revenue Law: Principles and Practice. This book is considered a go-to guide and key reference source for business and finance students, professionals and others operating in these sectors. The book is published annually at the end of September by Bloomsbury Professionals as part of their Tax Annuals and provides readers with an up-to-date understanding of the law relating to all areas of UK taxation with extensive cross-references to HMRC guidance, tax legislation and relevant case summaries. Helen has completed her annual contribution which covers updates for two chapters to the section on Income Tax General principles and taxation of individuals, and The overseas dimension. She also writes the chapter on companies and shareholders for the guides section on Capital Gains Tax, as well as two chapters for the business tax section. These cover Choice of business medium and Incorporations, acquisitions and demergers. Helen joined JHA in 2016. She is a qualified solicitor, a Charted Tax Adviser, a member of the Society of Trusts and Estates Practitioners, and a CEDR Accredited Mediator. She acts on behalf of corporates as well as individuals; she specialises in the taxation of UK residents and non-UK domiciled high net worth individuals. She also advises on Employee Benefit Trusts, Film Schemes and the disclosure of non-compliant offshore structures. You read a free preview chapter or buy a copy of the book here.
An Assessment to Tax is never ‘stale’, but it might be out of date: HMRC v Tooth
This article briefly discusses the key points arising out of the decision of the UK Supreme Court in HMRC v Tooth  UKSC 17. The case considered (1) whether a discovery assessment could become “stale” and (2) the meaning of the phrase “deliberate inaccuracy”.
VATA 1994 s.47, Agency, Onward Supply Relief, & Double Taxation
On 12 July 2021, the First-tier Tribunal (Tax Chamber) (“FTT”) released its decision in Scanwell Logistics (UK) Limited v HMRC  UKFTT 261 (TC), rejecting the taxpayer’s claim for onward supply relief (“OSR”).
Whilst OSR is now limited, post-Brexit, to goods imported into Northern Ireland for onward supply to the EU, the FTT’s discussion of agency under section 47 of the Value Added Tax Act 1994 (“VATA”) is of broader interest.
The case serves as a reminder of the significant financial consequences that can result from errors in tax planning, as Scanwell was ultimately held liable for £5.7 million in unpaid import VAT despite the fact that the imported goods almost immediately left the UK (which, if properly planned, could have meant Scanwell was relieved from liability to import VAT).
Draft Finance Bill 2022—tax avoidance measures
Helen McGhee, senior associate at Joseph Hage Aaronson LLP, considers the draft Finance Bill 2022 clauses published on 20 July 2021 in relation to tax avoidance and recent updates to the tax avoidance regime.
Getting Closer: A Global Minimum Tax on Corporations
On 1 July 2021, US Treasury Secretary Janet Yellen announced that countries representing over 90% of global GDP had agreed to a global minimum tax on corporations (“GMCT”). The GMCT seeks to put a floor on tax competition on corporate income through the introduction of a minimum corporate tax of at least 15%. Whilst certain elements give rise to positive expectations, some caveats should be noted. Much will depend on (1) the outcome of future political negotiations and (2) the detail of the drafting at international and national levels.
The DBKAG & K (CJEU) decision: an opportunity for investment funds?
On 17 June 2021, the European Court decided the joint cases K (C-58/20) and DBKAG (C-59/20) regarding whether the supply of certain services constituted the “management of special investment funds”, benefiting from the VAT exemption enshrined in Article 135(1)(g) of Council Directive 2006/112/EC.