The Summer Finance Bill 2015 includes a new measure subjecting restitution interest to a charge to corporation tax at a rate of 45%. Paul Farmer and Jivaan Bennett (Joseph Hage Aaronson) explain the background and key elements of the proposed legislation.
David Boneham (Deloitte) summarises what the disregard regulations cover, and explains the aspects that companies need to consider when adopting new UK GAAP.
Chris Morgan (KPMG) comments on the new corporate tax year which commences on 1 April.
What might the UK legislation look like if it was rewritten to follow a more accounts-based approach to business tax, asks David Martin (Centre for Policy Studies)
Corporation tax setting powers could soon be devolved to Northern Ireland, putting it on an equal footing with rates in the Republic of Ireland. Experts discuss what this would mean for the country, while Moira Kelly, chair of the Scottish Technical Sub-committee of the Chartered Institute of Taxation, considers the reaction in Scotland.
Jackie Wheaton (Moore Stephens) answers a query on a client which is considering making sponsorship payments to a local cricket club, and wants to know if these are allowable
Jeanette Zaman and Emma Game (Slaughter and May) consider whether the conditions for demergers to qualify as exempt distributions are in need of an overhaul
Thomas Dalby (Gabelle) answers a query on a client that acquired, and now wishes to dispose of, a company with a UK-resident EBT holding a number of shares
For any transaction involving bonds or notes, there are a number of potential difficulties that may arise, which may include issues involving stamp taxes, VAT, withholding tax, FATCA, and the tax treatment of the bond issuer and bondholders. Eloise Walker and Abigail McGregor provide a handy practice guide for advisers
Chris Sanger reviews the IMF’s recent report, Spillovers in international corporate taxation, which considers how national tax decisions have international impacts and offers some radical suggestions to the current international tax architecture
