Recent News & Events
Keeping it quiet ~ Article by Patrick Cannon
Patrick Cannon recently had an article entitled “Keeping it quiet” featured in Taxation Magazine.
A copy of the article can be seen here.
Free Seminar: Taxation of Trusts
Old Square Tax Chambers are hosting an afternoon seminar where Robert Venables QC, Harriet Brown and Patrick Boch will be speaking on the Taxation of Trusts.
The seminar will be held from 16:00 on Wednesday 31st October 2018 in the Old Hall, Lincoln’s Inn, London WC2A 3UP.
Drinks will be hosted immediately after at which you will have an opportunity to meet members of Old Square Tax Chambers.
To register your interest in attending, please click here.
Please feel to inform any colleagues that may also be interested in attending.
This seminar is free of charge.
Seminar Timetable
16:00 – 16:15 Tea & Coffee
16:15 – 16:50 Harriet Brown – Halloween Horrors: Terrible Trust Tax Trip-Ups Taken From Case Law and Practice
IHTA, Schedule A1: things you might not have noticed – Requirement to correct: what can be done now? – Barclays Wealth Trustees: a few points to take away – IHT DOTAS – FATCA conviction – Thompson v Thompson: estoppel and inheritance – Singh and ors v Sebastian Ash: proving intentions in rectification
16:50 – 17:25 Patrick Boch – The transfer of assets abroad escape clause – any room for manoeuvre?
Overview of the TAA provisions – the escape clause (s 737 ITA 2007) – what is “avoiding”? – what is a “purpose”? – application to a trust scenario – overview of the EU law defence.
17:25 – 18:00 Robert Venables QC – Employee Benefit Trusts – Are They Still Worthwhile?
IHT and CGT Advantages post Barker v Baxendale-Walker – Taxation of Employees on Contributions to Trust post Murray – Provision of Capital Sums for Employees without Disguised Remuneration Charge – the April 5th 2019 Employee Loan Charge – Deductibility of Contributions to Trust for Employer.
18:00 – 18:15 Questions to the speakers
18:15 – 20:00 Drinks
Tax Planning for 2019 – Key Haven Publications Ltd
Robert Venables QC, James Kessler QC and Ross Birkbeck will be among the speakers for Key Haven Publication’s Two-Silk Afternoon at The Law Society’s Hall, London WC2A on Tax Planning for 2019.
The seminar will be held on 14 November 2018, with further information available here.
Character World Limited v. HMRC [2018] UKFTT 456 (TC)
Philip Simpson, Q.C., successfully appeared for the taxpayer in the recent case of Character World Limited v. HMRC. It concerned whether slankets (items made out of fleece material, in the shape of blankets but having sleeves) attracted zero-rating on the basis that they were clothing designed for young children. It was agreed between the parties that the size made them suitable for young children (as did the design, which was of various well-known cartoon and other characters). The question was whether they were ‘designed as clothing’). The First-tier Tribunal agreed that slankets were designed to be worn, and accordingly that they were to be zero-rated.
A copy of the judgment can be seen here.
VAT Focus – Totel: pay now, argue later ~ Article by Etienne Wong
Etienne Wong recently had his article entitled “Totel: pay now, argue later” published in The Tax Journal.
A copy of the article* can be seen here.
*This article was first published in the 7 September 2018 issue of the Tax Journal, and is reproduced with the kind permission of the publishers. All rights reserved.
Tax Congress For Financial Institutions – 18 – 19 September 2018
Etienne Wong will be amongst the panel members at a two-day conference hosted by Tax Congress For Financial Institutions, being held on 18th – 19th September 2018 at the Millennium Gloucester Hotel.
TCFI brings together the most dynamic organisations and influential leaders from the tax departments, giving the opportunity to make a direct impact on the tax landscape by connecting with regulators from organisations like HMRC and OECD.
For further information and booking, please click here. (Please use discount code SPK20DS for 20% off).
(Please note the prices apply to delegates only, and delegate places are open only to financial institutions. Please contact TCFI separately if you are joining as a vendor or service provider, i.e. software providers, technology providers, consultancies, outsource providers, brokers, custodians and investment banks. Osney Media reserves the right to cancel your place and refund your payment if the incorrect ticket has been purchased.)
STEP Private Client Awards 2018/19
Old Square Tax Chambers are pleased to announce that we have been shortlisted for Chambers of the Year at the STEP Private Client Awards 2018/19.
Repayment of overpaid VAT for groups of companies (Revenue and Customs Commissioners v Taylor Clark Leisure plc)
Etienne Wong has recently had an article published by LexisNexis entitled “Repayment of overpaid VAT for groups of companies (Revenue and Customs Commissioners v Taylor Clark Leisure plc)“.
A copy of the article* can be seen here.
*This article was first published on Lexis®PSL Tax on 18 July 2018, and is reproduced with the kind permission of the publishers. All rights reserved.
2018 Chambers & Partners HNW Guide
We are delighted to be ranked as a set in the 2018 Chambers & Partners HNW guide for Tax: Private Client. Especially pleased that James Kessler QC and Rory Mullan are individually ranked. We would like to thank all our clients who contributed to the referee research process.
HNW Guide 2018: Old Square Tax Chambers is highly regarded for its private client tax work. “they are very, very clever – there are some very big brains in that set.” James Kessler QC is regarded as “one of the leaders in this field”. Rory Mullan; a market insider reports that “he is quite visionary on European law and tax, which for the last three or four years has become essentially essential”.
OXFORD CONFERENCE – KEY HAVEN PUBLICATIONS LTD – PRACTICAL TAX PLANNING 2018
KEY HAVEN PUBLICATIONS LTD
36th Annual Oxford Four-Silk Residential Seminar and Workshop
PRACTICAL TAX PLANNING 2018
Wednesday September 26th to Friday 28th September
Merton College, Oxford
Early Bird Price £1,299 + VAT
Full Price £1,499 + VAT
The aim of this year’s residential seminar is once again to examine, in the congenial atmosphere of an historic Oxford College, practical solutions to the ever changing fiscal complications to modern life.
In addition to regular talks, the Seminar will include for the first time interactive Discussion Sessions, monitored by two of the speakers, in which current tax planning issues will be considered, usually with case studies.
SPEAKERS
Robert Venables Q.C. (Chairman)
Mark Herbert Q.C.
James Kessler Q.C.
Philip Simpson Q.C.
Rory Mullan
Setu Kamal
Harriet Brown
Etienne Wong
Mary Ashley
Sarah Squires
Ross Birkbeck
Patrick Boch (joining Chambers in August 2018)
The speakers are all practising barristers. They practise from Old Square Tax Chambers, 15 Old Square Lincoln’s Inn, London WC2A 3UE, except Mark Herbert, Q.C.
PROVISIONAL TIMETABLE
WEDNESDAY September 26th
12.00 Arrival and Registration
13.00 Lunch Merton College
14.00 Chairman’s Introduction
14.10 Disguised Remuneration April 5th 2019 Charge – Robert Venables Q.C.
When will it apply? Who will be liable? What anything be done to prevent it?
14.55 The New Close-Family Rules – Rory Mullan
Capital Gains Tax and Non-UK Resident Trusts (TCGA s.87G – 87H ) – Income Tax Settlement Provisions (ITTOIA s.643A – 643H) – Income Tax Transfer of Assets Abroad Provisions (ITA s.733A – 735B) – Planning Points
15.40 Claims against trustees – Mark Herbert Q.C.
Obtaining documents and the Data Protection Act – Not every duty owed by a fiduciary is a fiduciary duty’; discuss – Equitable compensation and the duty to account – Accounting on the footing of wilful default – Limitation defences and laches
16.20 Discussion Session with Refreshments
16.40 Deemed Domicile Rules – Mary Ashley
New Rules for Inheritance Tax, Income Tax and Capital Gains Tax
17.20 Trades and Professions: New Anti-Avoidance Rules – Setu Kamal
Trading Income Through Third Parties: Finance (No 2) Act 2017 Anti-Avoidance Provisions – Consultation Document on Proposed Business profit fragmentation Rules
Close of Formal Proceedings for the Day
19.00 Pre-dinner drinks and dinner in the Great Hall
THURSDAY 27th September 2018
09.30 Chairman’s Introduction
09.35 Disregard of Capital Payments From Settlements – Robert Venables Q.C.
Disregard of payments: purpose and intention – Payments to non-residents – Payments in year settlement ends – Payments received by close family members – Interaction with other provisions.
10.20 Settlements Anti-avoidance Rules Concerning Onward Gifts – Harriet Brown
New rules in s.87I-87N TCGA 1992, 643I -643N ITTOIA 2007 and 733B-733E ITA 2007 – When is an onward gift made? – Scope of the rules and extent of potential liabilities – Commencement and application of the new rules
11.05 Discussion Session with Refreshments
11.20 Protected Foreign Source Income – James Kessler
Transfer of Assets Abroad Provisions – Income Tax (Trading and Other Income) Act 2005 Settlement Provisions
12.05 Partnership Taxation Post Finance Act 2018 – Philip Simpson Q.C.
Indirect partners – Bare trusts – Returns: information to be included – Returns: shares of profits and losses – Returns: overseas partners
12.50 Lunch
15.00 Taxation of Non-UK Residents on Gains from United Kingdom Land – Sarah Squires
Finance Act 2016 Regimes for corporation tax and income tax – Widened Scope of Charge – Comparison with Replaced Anti-Avoidance Provisions – Irrelevance of permanent establishment. The Consultation Document Taxing gains made by non-residents on UK immovable property: extension of direct charge to all United Kingdom property interests – introduction of charge on indirectly held United Kingdom property interests – transitional provisions – TAAR – Forestalling
15.40 Discussion Session with Refreshments
16.00 Discussion Session 1
17.00 Discussion Session 2
18.00 Close of Formal Proceedings for the Day
19.15 Pre dinner drinks
19.45 Gala Dinner Merton College (Black-Tie Optional) in the Great Hall
FRIDAY 28TH September 2018
09.30 – Chairman’s Introduction
09.35 Discussion Session 3
10.20 Tax Litigation – Patrick Boch
Tax Litigation From the Perspective of A Former HMRC Litigator – the Life of A Tax Dispute: Pre-enquiry, Enquiry, Stages of Appeal – HMRC Litigation and Settlement Strategy – Ineffective Strategies for Dealing with HMRC – Effective Strategies for Dealing with HMRC
11.05 Discussion Session with Refreshments
11.25 Reports of Discussion Sessions Followed by Questions to Speakers
12.45 Lunch
14.00 Close of Seminar
DISCUSSION SESSIONS
Each Discussion Session will be held three times over, at the times indicated above, to limit the number of those participating in each session.
Discussion Session A, lead by Rory Mullan and Ross Birkbeck: Domicile and Deemed Domicile
Discussion Session B, lead by James Kessler and Harriet Brown: Capital Gains Tax Liabilities of Non-UK Resident Trustees, their Settlors and Beneficiaries.
Discussion Session C, lead by Robert Venables and Mary Ashley: Income Taxation of Trusts, their Settlors and Beneficiaries
Discussion Session D, lead by Sarah Squires and Etienne Wong: Taxation of Non-UK Residents re United Kingdom Land
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FEES
£1, 499 per delegate plus VAT (£299.80) = £1,798.80
SPECIAL EARLY BOOKING DISCOUNT
For bookings confirmed by August 1st 2018
£1,299 per delegate + VAT (£259.80) = £1,558.80
(to include course notes, accommodation, meals and wines.)
REGISTRATION
For application and conditions please contact:
Key Haven Publications Ltd, PO Box 669, Oxford OX3 3AU
Tel: 01865 352121
E-mail: aw.khpplc@khpplc.co.uk
Conferences Terms and Conditions
Cancellations: Those confirmed in writing 30 days prior to the Seminar qualify for a refund subject to a £150 charge. Cancellations within 30 days prior to the seminar do not qualify for a refund, although substitutions will normally be allowed at Key Haven’s discretion, subject to a £50 administration fee.
Disclaimer: Key Haven Publications Ltd reserves the right to change the speakers or the programme for any reasons beyond its control or on account of changes in the law. Nothing in the talks or discussions or the prepared notes constitute legal advice. They are simply an expression of the speakers’ views, put forward for consideration and discussion. No action should be taken nor omitted in reliance on them but independent professional advice should be taken in every case. Neither the speakers nor Key Haven Publications Ltd accept any legal responsibility for them.
Warning: Neither Key Haven Publications Ltd nor the speakers gives any licence to any person to record and/or reproduce in any format (including sound and/or visual recording) (a) any Notes prepared in conjunction with this seminar; (b) the delivery by any speaker of any talk or any response to any question or discussion, in whole or in part, on any of the above. Any such unlicensed recording or reproduction or the making of any such epitome or transcript is a civil wrong and could well involve the commission of a criminal offence.