In this article, Paul McCarthy, partner, Jeremy Edwards and Jonathan Fletcher Rogers, members of Allen & Overy's Incentive Group, consider the new legislation restricting corporation tax deductions to employee benefit trusts. They also look at the reasons why the legislation may have been introduced and the likely impact that the new legislation will have on the use of employee benefit trusts
Nigel Doran, tax partner at Macfarlanes, points out that the recent substantial shareholding legislation needs clarifying