The CJEU has dismissed as ‘premature and speculative’ the UK government’s challenge to the EU Council decision authorising 11 member states to establish enhanced cooperation towards the introduction of a financial transaction tax. In its decision, the court ruled that it cannot contest elements o
According to the Financial Times (4 May 2014), the proposed takeover of UK-listed drug group AstraZeneca by Pfizer of the US has reignited the debate over tax competition between countries.
The OECD has said that bank secrecy for tax purposes is coming to an end, as countries and major financial centres commit to automatic exchange of information between jurisdictions.
On 29 April and 1 May, a Public Bill Committee passed the following Finance Bill provisions without amendment: cl 2 (basic rate limit 2015/16 and personal allowances 2015); cl 3 (starting rate for savings and savings rate limit); cl 4 (indexation of limits and allowances under ITA 2007); cl 8 (CG
UK’s action against financial transaction tax fails
The budget deficit is coming down, but more slowly than hoped. The weakness of corporation tax receipts is a prime cause, as David Smith reports
Peter Honeywell and Tania Dimitrovich explain why changes to HMRC’s SAO guidance point towards a more robust approach than was previously apparent
HMRC has published guidance on the new anti-avoidance measure introduced by Finance Bill 2014, which prevents non-trading finance profits of a CFC from being regarded as a qualifying loan relationship where an arrangement to transfer profits out of the UK exists.