Erica Rees

• UK Spring Budget 2024: Tax Update Blog Post — Tax Blog — By Jenny Doak, Aron Joy, Oliver Walker, Erica Rees and Sean Wright — March 07, 2024

  On 6 March 2024, Chancellor Jeremy Hunt delivered his Spring Budget. In the days preceding the Budget there had been mounting speculation that the Chancellor would cut personal taxes by reducing rates of income tax or National Insurance contributions (NICs). In the event, Chancellor Hunt did not disappoint and announced a further reduction in NICs,

  The post UK Spring Budget 2024: Tax Update appeared first on Weil Tax BLOG.

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• Chambers Expert Focus Weil Tax Insight Series: Navigating the Tax Landscape: Key Insights From UK Courts in 2023 Blog Post — Tax Blog — By Oliver Walker and Erica Rees — January 16, 2024
  In this edition of the Chambers Expert Focus Weil Tax Insight Series, partner Oliver Walker and professional support lawyer Erica Reese provide a summary of some of the most significant UK tax decisions from 2023. ...
• Upper Tribunal Gives Judgment in M Group Holdings Limited – Oh, What a Diff’rence a Day (or Month) Makes Blog Post — Tax Blog — By Jenny Doak and Erica Rees — November 27, 2023
  The Upper Tribunal’s recent decision in M Group Holdings Limited v HMRC [2023] UKUT 00213 (TCC), concerning the availability of the substantial shareholding exemption (“SSE”), serves as a useful reminder to heed any applicable “bright line” requirements when planning to avail of tax exemptions and reliefs. ...
• UK AUTUMN STATEMENT 2023: TAX UPDATE Blog Post — Tax Blog — By Jenny Doak, Aron Joy, Oliver Walker, Kevin Donegan, Enda Kerin, Erica Rees, Sean Wright and Mila Kostadinova — November 22, 2023
  On 22 November 2023, Chancellor Jeremy Hunt delivered his Autumn Statement, potentially the last such statement to precede the next UK general election.Despite mounting speculation over the past few days, there were no rabbits in the Chancellor’s hat, and today’s announcements were broadly in keeping with expectations. The headline items included the announcement that the current full expensing policy for businesses will be made permanent – a move which the Chancellor heralded as “the biggest business tax cut in modern British history” – and various changes to National Insurance contributions (NICs), including a reduction of the main rate and the abolition of Class 2 NICs for self-employed individuals. ...
• Rollover relief and CGT planning: Wilkinson Blog Post — Tax Blog — By Jenny Doak and Erica Rees — September 28, 2023
  The recent case of Wilkinson v HMRC involves a commonplace scenario in corporate transactions, where shares in a target entity are often sold in exchange for some combination of cash, shares and/or loan notes issued by the buyer or a member of the buyer’s group. The issue of non-cash consideration can serve a commercial purpose: for example, by keeping a seller invested in the relevant company, thus incentivising their personal interest in the company’s success. There may also be tax considerations, including the sellers availing of “rollover relief”, and these were the focus of the First-tier Tribunal’s (FTT’s) decision in Wilkinson,where the FTT concluded that avoidance of liability to capital gains tax (CGT) was not a main purpose of the transaction. The case highlights the fact-specific nature of applying anti-avoidance provisions, demonstrating in particular that the way in which an “arrangement” is defined may have a significant impact on the ascertainment of its purpose. ...

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