UK Tax Liability definition

UK Tax Liability means any liability or obligation of the Company and/or any Group Company, including any UK Group Company, to account (or pay) for income tax (under the United Kingdom withholding system of PAYE (pay as you earn)) or any other taxation provisions and primary class 1 National Insurance contributions in the United Kingdom to the extent arising from the grant, exercise, vesting, assignment, release, cancellation or any other disposal of an Award or arising out of the acquisition, retention and disposal of the Shares acquired under this Plan.
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UK Tax Liability means a liability to make or suffer an actual payment of UK Tax;
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UK Tax Liability means any Pre-Closing Tax Period Taxes for which the Transferred Subsidiaries may be liable in connection with or as a result of the UK Tax Proceeding.
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Examples of UK Tax Liability in a sentence

  • Furthermore, you hereby agree to indemnify on demand to the fullest extent permitted by law and hold harmless the Company from and against: (i) each and every claim, liability and demand made by HMRC in respect of any UK Tax Liability; and/or (ii) any interest, fines and penalties incurred by the Company in connection with any UK Tax Liability.


More Definitions of UK Tax Liability

UK Tax Liability has the meaning given in clause 8.6.
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UK Tax Liability means any liability or obligation of the Company and/or any Group Company to account (or pay) for income tax (under the United Kingdom withholding system of PAYE (pay as you earn)) or any other taxation provisions and primary class 1 National Insurance contributions in the United Kingdom to the extent arising from the grant, exercise, vesting, assignment, release, cancellation or any other disposal of an Award, or arising out of the acquisition, vesting, retention and/or disposal of the Shares subject to or comprising an Award, or otherwise pursuant to an award of Shares under the Plan.
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UK Tax Liability means: (A) a liability to make a payment of tax (including as a result of the loss of all or part of any loss, allowance, credit, exemption, set-off or deduction relevant to the computation of any liability to tax ("RELIEF") which Relief has been taken into account in computing (and so reducing) any provision relating to tax which appears in the calculation of the UK Net Asset Value) (an "A LIABILITY"); and (B) the compulsory (under English law) application of all or part of any Relief in computing either profits earned, accrued or received on or before Closing or tax arising in respect of any event on or before Closing where the Relief arises in respect of any event occurring or period commencing after Closing and where but for such application the UK Subsidiary would have been liable to make a payment of tax in respect of which the Seller would have been liable to make a payment under clause 1.3(a)(ii)(A) (a "B Liability"); in each case arising in respect of or as a consequence of or by reference to: (1) any income, profits or gains earned, accrued or received or deemed for tax purposes to have been earned, accrued or received by the UK Subsidiary before Closing; (2) any event which occurred or is deemed for tax purposes to have occurred in relation to the UK Subsidiary before Closing.
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Related to UK Tax Liability

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the liability for Taxes of the Corporation (or the Partnerships, but only with respect to Taxes imposed on the Partnerships and allocable to the Corporation) using the same methods, elections, conventions and similar practices used on the relevant Corporation Return but using the Non-Stepped Up Tax Basis instead of the tax basis reflecting the Basis Adjustments of the Adjusted Assets and excluding any deduction attributable to Imputed Interest.