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Encouraging Progress on CFC Discussion

Speed Read: Since 2007 the UK's CFC rules have been under intense scrutiny. Pressure had been building up as a result of the Cadbury and Vodafone litigation and because of the very negative reaction that legislative proposals put forward in 2007 produced. HMRC have been urging multinationals who thought that the UK was becoming uncompetitive to await more positive proposals. Although work still needs to be done the UK multinational community ought to be pleased with the progress that has been made to date.
While many will say that the devil is always in the detail and also that there are still areas where work remains to be done before the policy becomes completely clear all the initial signs are that the proposals in the...
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