Market leading insight for tax experts
View online issue

Finance Bill Debates

Alan Dolton Editor of Tolley's Tax Cases continues our summaries of the Public Bill Committee debates on the Finance Bill
Schedule 22 (financial arrangements avoidance) saw five Government amendments. The Financial Secretary explained the reasoning behind the Schedule:
'HMRC has been notified of a number of schemes that involve companies designing securities so that they are treated as paying distributions rather than interest. The amounts paid are equal to the returns that would be paid on an investment at interest but are claimed to be non-taxable because of the distributions rules. The debtor company will generally be party to an arrangement that allows it to obtain a tax deduction for the amount treated as a distribution or it is unconcerned about whether it obtains such a deduction because it has...

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.