The increased rate of Bank Levy will make foreign banks more inclined to limit or reduce their UK activities and UK banks will continue to review the possibility of re-structuring to exclude non-UK activities from the Levy.
The increased rate of Bank Levy will make foreign banks more inclined to limit or reduce their UK activities and UK banks will continue to review the possibility of re-structuring to exclude non-UK activities from the Levy. Some initiatives in the Budget are consistent with the ambition to create the most competitive tax system in the G20 but this coming so soon after the abandonment of the 2011 introductory rate is not. The reduction in corporation tax is obviously welcome but the Chancellor’s action to deny banks a ‘net tax cut’ when others are to receive one is a new and unwelcome development. The second rate change in two months...
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The increased rate of Bank Levy will make foreign banks more inclined to limit or reduce their UK activities and UK banks will continue to review the possibility of re-structuring to exclude non-UK activities from the Levy.
The increased rate of Bank Levy will make foreign banks more inclined to limit or reduce their UK activities and UK banks will continue to review the possibility of re-structuring to exclude non-UK activities from the Levy. Some initiatives in the Budget are consistent with the ambition to create the most competitive tax system in the G20 but this coming so soon after the abandonment of the 2011 introductory rate is not. The reduction in corporation tax is obviously welcome but the Chancellor’s action to deny banks a ‘net tax cut’ when others are to receive one is a new and unwelcome development. The second rate change in two months...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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