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Consultation on CFC interim improvements

Following the announcement in the June Budget the Government has issued a short note setting out the aims and scope of the interim improvements to be made to the existing CFC rules together with the framework for consultation over the summer.

With the long-awaited CFC reform moving back yet another year to spring 2012 it is clear that the Government wants to demonstrate to business that things are still moving in the right direction.

The note makes all the right noises as far as business is concerned but contains little detail on the improvements that might be expected although it does lay down some guiding principles.

It seems that any changes will be largely driven by the consultation process that will run over the summer. This makes it crucial for business to fully participate in the debate over the next couple...

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