Laurence Bard on the R&D measures in Finance (No. 2) Bill 2010-11
Baker Tilly observed that last year Cadbury paid UK corporation tax of around £197 million, and that the company has now announced plans to move its headquarters to Zurich ‘to take advantage of Switzerland’s more competitive tax regime’.
A report setting out possible changes to the Gift Aid system has ‘much that could be taken forward,’ according to Justine Greening, the Economic Secretary to the Treasury.
The total recorded yield from HMRC settlements relating to controlled foreign companies legislation in the financial years 2007/08 to 2009/10 is estimated at £719 million, David Gauke said in a Commons written answer.
The Corporation Tax Act 2010 (Amendment) Order, SI 2010/2902, corrects minor errors in some CTA 2010 consequential amendments and transitional provisions, and restores the law to its position before CTA 2010. The Acts affected are CTA 2009, CTA 2010 itself and TCGA 1992.
Tax advisers have warned that uncertainty caused by a general anti-avoidance rule could harm the UK’s competitiveness.
City A.M. reported (8 December) that ‘Kraft has asked for police advice to protect its factories from protesters after City A.M. revealed it may be targeted for moving parts of its business offshore’.
Charles Pascoe explains how to obtain the maximum value from accumulated trading losses in an insolvent company
Peter Cussons on the foreign branch exemption
Chris Sanger reflects on whether the CT roadmap will provide the boost to competitiveness that the government wishes and turn the UK’s tax system ‘into an asset’