CORPORATION TAX

William Watson explains why HMRC's June paper is welcome news.

Peter Gouw answers a query on the substantial shareholdings exemption in a case concerning joint venture arrangements.

The government has announced details of a tax relief to support investment in new large shallow-water gas fields in the UK Continental Shelf. The Chancellor said at Budget 2011 that he would consider the case for introducing a new category of field allowance for marginal gas fields.

Paul Howard and Priya Dutta provide your refresher guide.

The GAAR HMRC has published for consultation its draft GAAR (general anti-abuse rule). At a conceptual level it borrows heavily from Graham Aaronson QC’s illustrative GAAR (published as part of the GAAR study group’s report in November 2011),...

Helen Lethaby examines the proposed general anti-abuse rule, the decision in Greene King, HMRC's latest views on perpetual debt, and further guidance on the Banking Code of Conduct.

Robert Langston with your refresher guide to the rules.

Clive Tietjen and Alison Lobb review three new discussion drafts published by the OECD.

David Harkness and Robert Sharpe explore potential areas of deficiency in the new CFC rules and their interaction with the Banking Code.

Michael Thompson and Jenny Doak on the rules affecting exploration and exploitation of oil and gas reserves beyond the UK’s territorial waters.