Tax

As local and international tax rules become more prescriptive, and compliance and reporting obligations more onerous, dealing with them effectively is a significant challenge. Our UK-based tax team is well-placed to assist you. We are part of a 300 strong tax group across Europe and beyond. Supported by strong technical back-up teams that identify developments in tax law and policy affecting your business, we will help you develop robust structures that maximise tax effectiveness and can respond to future developments such as BEPS. We work with you to implement an appropriate tax strategy for your business.

Whether you are a financial institution, multinational, fund, corporate investor or high net worth individual, we understand your commercial drivers and the tax pressures you face.

Our teams work together across all sectors and all areas of tax affecting your business including VAT, transfer pricing, tax structuring and tax disputes. Where you are undertaking a transaction, our advice can make a material difference to transaction costs, help you exploit tax saving opportunities and, in some cases, avert serious consequences. If you are involved in a dispute, an early intervention with the tax authorities on your behalf can ensure the best outcome for your business.

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Employee Incentives
CMS has the largest number of partners dedicated to employee share plans in a City law firm, with over forty years’ combined experience as partn
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Private Client Tax
The CMS Private Client Tax practice advises on all aspects of personal and corporate tax matters including income tax, capital gains tax, inheritance
Restructurings and Reorganisations
The CMS tax team provides UK and multinational groups with bespoke structuring services to achieve commercial aims tax efficiently.  Whether you
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Tax Disputes and Investigations
The global tax landscape has undergone radical change in recent years.  In the face of growing pressure to crack down on perceived tax avoidance
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Transfer Pricing
As an organisation with global operations, you may be benefiting from strong growth in cross-border transactions. You are also subject to tighter regu
Law-Now: Tax
Visit Law-Now for legal know-how and commentary
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16/05/2024
UK Tax Disputes Digest (Spring 2024)
Welcome to the spring 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel...
14/05/2024
Update on Business rates
Summary  This Law-Now1 summarises some recent developments in relation to business rates following the Spring Budget 2024 and the Government’s summary of responses to the Business Rates Avoidance and...
25/03/2024
Introduction to the Crypto-Asset Reporting Framework
The market for Crypto Assets is growing rapidly. Crypto Assets can be issued, recorded, transferred and stored in a decentralised manner, without the need to rely on traditional financial in­ter­me­di­ar­ies...
11/03/2024
UK Independent Film Tax Credit
On Wednesday 6 March 2024, the Chancellor of the Exchequer announced the introduction of the UK Independent Film Tax Credit (“IFTC”) in the Spring Budget.The IFTC is specifically targeted at the UK’s...
11/03/2024
Welcome amendment to the Construction Industry Scheme regulations as they...
At the Autumn Statement 2023, the government announced amendments to the Income Tax (Construction Industry Scheme) Regulations 2005 (the Regulations), including removing certain payments between landlord...
11/03/2024
CMS advises Flagstone on £108m investment from Estancia Capital Partners
International law firm CMS has advised fintech company Flagstone on a £108m investment from US private equity firm Estancia Capital Partners. Launched in 2015, Flagstone has grown to become the UK’s...
07/03/2024
Introduction to Crypto-Asset Reporting Framework, the new OECD international...
In 2023, the OECD conducted its first comprehensive review of the Common Reporting Standard (“CRS”) since CRS was adopted by the OECD in 2014. This has resulted in amendments in two key areas:(A)...
06/03/2024
Spring Budget 2024 – key tax announcements
Against the backdrop of an election (probably) later this year, the Chancellor was evidently feeling the pressure to make tax announcements that would find favour with the electorate, whilst constrained...
07/02/2024
CMS UK Tax Disputes Digest (Winter 2024)
Welcome to the winter 2024 edition of our UK Tax Disputes Digest: a high-level summary of key developments in contentious tax over the last few months for heads of tax, finance directors, general counsel...
17/01/2024
Vermilion: A Noble Cause or a Taxing Problem?
Background In 2006, Vermilion Holdings Ltd (“Vermilion” or “the Company”) carried out a funding exercise as part of which Quest Advantage Limited (“Quest”) was appointed to produce a business...
27/12/2023
No white smoke on ATAD III proposal in 2023
As a reminder, on 22 December 2021, the European Commission issued its proposal for a directive to prevent the abuse of shell entities for tax purposes (ATAD III proposal). After several amendments, the...
24/11/2023
Carbon Border Adjustment Mechanism transition in effect since 1 October...
On 1 October 2023, a two-year transitional period began for implementation of Regulation (EU) 2023/956, which introduces the Carbon Border Adjustment Mechanism (CBAM). CBAM levies punitive CO2 charges...