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Fiscal Odyssey

 
Continuing his diary Allan Cinnamon International Tax Consultant BDO Stoy Hayward looks at the international tax aspects of a UK company acquiring a German group
 
Covington plc is a large multinational client active in the food sector with a speciality in cheesecake. The tax director Fran Loesser runs a very efficient department that handles most UK issues but she relies on us for international tax advice. That is why I found myself at a meeting with Fran her finance director Dave Hoskins and her in-house lawyer Jim Brando to discuss an upcoming acquisition in Germany.
 
After coffee and the usual preliminaries Fran opened the meeting. 'Allan as you know we have an existing German subsidiary Covington GmbH. It...
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