HM Treasury has published an update and more draft legislation dealing with reform of the controlled foreign companies (CFC) rules. Two circumstances have been identified in which a full, rather than partial, finance company exemption will be offered.
An arrangement reported to allow the Student Loans Company's chief executive legally to avoid thousands of pounds in income tax and national insurance contributions will be unwound, a Treasury minister announced in the House of Commons this morning.
Nikhil Mehta and Gareth Miles review the impact of the decision of the Supreme Court, which held that Indian capital gains tax did not arise on an indirect transfer of shares in an Indian company.
Stock lending provides financial institutions with an increasingly important source of liquidity. Gillian Gall and Kevin Cummings explain the tax rules.
The draft anti-avoidance rule being considered by the government does not allay concerns over uncertainty and may disappoint public opinion, according to the Chartered Institute of Taxation.
From the Daily Telegraph:
The UK’s proposed Patent Box legislation puts it on course to join a number of European territories that are favourably taxing certain intellectual property (IP) income.
Val Hennelly, Jonathan Levy, Geoff Lloyd and Graham Massie consider mediation and look at the benefits for HMRC and taxpayers alike, ADR pilots, working collaboratively and the next steps.