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Dear Lexis®Library subscriber,

e-burst brings you up to date with the latest improvements in your LexisNexis® online services. Some of the sources and titles mentioned below are subscription dependent, please contact your account manager or call us on 020 7400 2984 if you would like to discuss adding any of these services to your existing subscription.

June’s Emergency Budget - Keeping you up to date with all the developments

In May, the Conservatives pledged before the election to hold a Budget within 50 days of coming to power to show their intention to combat the £163bn deficit. The new Chancellor George Osborne has confirmed that the coalition government will hold its emergency Budget on 22 June 2010. As you know this is going to be the most important Budget in years so let us make it easy for you to stay abreast of all the developments.

Our current awareness team are primed and ready to make the Emergency Budget Statement and related press releases available online on 22 June within hours of George Osborne delivering his speech. Keep an eye on the UK Regulatory Materials Summaries and Specialist Tax Regulatory Materials sources as well as Tax News Online page, the first link under the Resources and Tools heading on the Tax and Accountancy page. Tax News Online is available on all menus that have the Tax Statutory Instruments source included.

Our comprehensive Budget Service source will also provide an invaluable resource of information on the changes announced in this emergency Budget 2010, keeping you up-to-date with ease. This source will include the Budget Speech in full, HM Treasury and HMRC press releases and Budget Notes, Budget Resolutions and a Budget Summary from the Tolley Tax Editorial Team.

You may wish to send key announcements on Budget day to colleagues using our handy CopyURL link functionality. The CopyURL icon can be found towards the top right hand corner of the screen near the document delivery icons. CopyURL functionality enables you to bookmark documents and searches on LexisLibrary and provide a direct link to that information if you are a subscriber. Quick, easy and useful – this is going to save you time and effort.

iXBRL Filing of Tax Returns

A hot topic in the tax market is the mandatory change to iXBRL filing of tax returns. A plethora of information relating to this matter can be found on LexisLibrary including commentary, journals and current awareness. On the Tax & Accountancy practice area page, use the Search Tax & Accountancy Sources box in the top left hand of the page and type in “iXBRL” and click on search. Using the results group on the left hand side of the results screen, you can browse by publication type e.g Current Awareness, to read all about it. Clicking on the source Specialist Tax Regulatory Materials within Current Awareness specifically lists a number of useful articles on the online filing of Company Tax Returns.

New online content - coming soon! 

Taxation of Foreign Profits 2009-2010
Available soon on menus including Tax Library, Legal Library, Lexis Nexis Library and International Tax

Taxation of Foreign Profits deals with the most extensive changes to UK law on taxation of foreign income in over 50 years. This new source will provide timely and authoritative interpretation of the new 2009 rules addressing the taxation of Foreign Profits earned by UK companies and their subsidiaries and other significant changes affecting companies with cross-border investments. A high profile and expert team of authors, led by General Editor Philip Baker QC with Consultant Editor Diane Hay, explain the core issues stemming from the most extensive changes to UK law on the taxation of foreign income in over 50 years, and show how these rules will apply with examples of their practical application.

Contents include coverage on:

* Dividend Exemption
* Worldwide Debt Cap (with dedicated sections on the impact for both the Banking and Insurance Industries)
* Reporting of Worldwide Transactions
* Controlled Foreign Company Rules: Future Reform
* The Wider Context: the impact of Double Taxation Conventions (DTCs) and of EC Law

The title benefits from the specialist knowledge of Consultant Editor Diane Hay and General Editor Philip Baker QC. Diane was previously a senior official of HM Revenue & Customs where she was a member of the HMT/HMRC Joint Steering Committee on Foreign Profits. Philip is one of the UK’s most respected QCs and academics with a global reputation on international tax and treaty law. Their contribution allows practitioners to understand the background to this complex legislation and how the new rules fit into the global picture.

Did you know?

Royal Navy ships that enter the Port of London must provide a barrel of rum to the Constable of the Tower of London!

What do you want to hear about? Are there any areas of the service that you feel are not meeting your needs? Are there specific areas relating to the service that you would like to be updated on? We are always keen to receive your feedback. You can contact us at: serviceupdate@lexisnexis.co.uk