Graham Brough answers a query on tax on reverse earn-outs.
Heather Self looks at the substantial shareholdings exemption in light of Vodafone's sale of its Verizon interests
Pippa Booth and Alycia Spitzmueller explain why, even with the base corporation tax rate decreasing, changes in FA 2013 may increase an entity’s effective rate of tax.
A look at what’s ahead this month, with views from practitioners on what’s in their in-tray: David Harkness on the advent of GAAR health checks; David Whiscombe on a mixed bag for SMEs; Sarah Cormack on the proposed anti-avoidance rules on transfer of assets abroad; and Daniel Lyons highlights proposed changes to the VAT retail export scheme
HMRC has published two sets of statistical data on tax for 2012/13: the first being PAYE income tax and NIC and corporate tax receipts from the banking sector, and the second being corporation tax receipts and liabilities, both viewable on HMRC’s website.
Company purchasing own shares: whether void
The City of London Law Society would like to see the tax charge under the loans to participators rules replaced with a charge arrived at on a similar basis, but levied at the dividend rate.
The CIOT has warned that government proposals for a strengthened code of practice on taxation for banks will set a ‘dangerous precedent’ by giving HMRC power to determine and publicly announce non-compliance with the code without any right of appeal.
It has been reported in The Guardian that Vodafone reached a previously undisclosed multimillion pound tax deal with HMRC over an Irish subsidiary, which collected royalty payments from operating companies and joint ventures around the world.