The five key issues in 2010 for in-house tax teams are as follows:
1. Change in government: Britain ‘open for business’
The new government has moved quickly to change the tax landscape for corporates. The phased reduction in the CT rate is welcomed by all apart from those who suffered from the reduced availability of capital allowances.
We continue to move towards a more territorial approach for the taxation of foreign profits and the programme of tax reform and consultation remains on track.
The new approach to consultation is a huge step forward.
Some of the more troublesome measures remain however including the reduction of tax relief for pension contributions albeit in a more acceptable form than before and the 50% tax rate which will discourage international executives from locating in the UK.
Why it matters: Those groups considering re-domiciling from the UK may wish to...
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The five key issues in 2010 for in-house tax teams are as follows:
1. Change in government: Britain ‘open for business’
The new government has moved quickly to change the tax landscape for corporates. The phased reduction in the CT rate is welcomed by all apart from those who suffered from the reduced availability of capital allowances.
We continue to move towards a more territorial approach for the taxation of foreign profits and the programme of tax reform and consultation remains on track.
The new approach to consultation is a huge step forward.
Some of the more troublesome measures remain however including the reduction of tax relief for pension contributions albeit in a more acceptable form than before and the 50% tax rate which will discourage international executives from locating in the UK.
Why it matters: Those groups considering re-domiciling from the UK may wish to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
