OUR PICK
Venture capital companies and R&D relief
OUR PICK OF THIS WEEK'S CASES
Appeal by a partner who is not the representative member
HMRC has made welcome changes to the new diverted profits tax, which takes effect from 1 April. As a result, the tax should not disrupt commercially based planning supported by economic substance, writes Shiv Mahalingham (Duff & Phelps).
The Treasury has published its proposed next steps on tackling evasion and avoidance. James Bullock (Pinsent Masons) reviews the detail.
Keith Gregory (NGM Tax Law) answers a query on the taxation of a hive down of a business.
Two changes particularly catch the eye, one welcome and one not so, writes Mike Lane (Slaughter and May).
The Financial Times (15 March) reports that the Obama administration’s clampdown on tax inversions by US multinationals has ‘had the perverse effect of prompting a sharp increase in foreign takeovers of American groups’.
The government has failed to address ‘underlying weaknesses’ in the UK tax system, according to a report from the Institute of Fiscal Studies (see www.bit.ly/1BUXYFo) on tax changes introduced by the coalition government says that.
The Market Value of Shares, Securities and Strips Regulations, SI 2015/616, implement the Office of Tax Simplification’s recommendation to replace the ‘quarter up’ method of determining the market value of listed shares with the closing price on the relevant day, with effect from 6 April 2015.