A company can purchase its own shares, but the basic principle is that any amount paid in excess of the capital subscribed for the shares is taxed as a distribution. However, as Paula Tallon and Paul Howard explain, where a number of conditions are satisfied, capital gains tax treatment can be obtained for the shareholder.
Robert Langston answers a query on the limits of withholding tax credits
Company acting as trustee of pension funds
Britain ‘will not join the scheme’
Generous backing could undermine investment in renewables, says Aldersgate Group
Moves will create about 2,000 highly-paid jobs, John Dixon tells FT
The decision in European Commission v Portuguese Republic (CJEU Case C-38/10) leaves the UK’s exit charge regime looking hard to justify, Paul Freeman writes.
Lakshmi Narain sets out issues for advisers to consider this month, including the start of pension reforms required of employers
Gareth Miles and Tom Jarvis highlight points to watch in practice.
Tax relief is a ‘basic need for businesses that expand beyond national borders’, says tax commissioner