Alvarez & Marsal Taxand UK has appointed Tom McFarlane and Stephen Machin both formerly with KPMG as Managing Directors in London.

A special low rate of UK corporation tax on finance profits from overseas financing within multinational groups will offer a ‘very significant’ benefit to groups setting up a structure that represents according to a leading tax expert ‘almost government-approved tax avoidance’.

A leading charity’s claim that ‘tax dodging’ by multinationals costs developing countries an estimated US$160bn a year falls short of the standards that campaigners expect from companies according to a tax expert.