Tony Beare looks at the Budget measures affecting multinational companies
There were few significant developments in last week’s Budget. For the most part the Budget press releases simply confirmed the legislative changes that had previously been announced.
Perhaps the main point of interest for the corporate sector was the announcement that in relation to the ongoing consultation on the modernisation of the loan relationship and derivative contract rules the changes resulting from the consultation are largely to be deferred to 2015. The only changes which are to be included in this year’s Finance Act are those relating to the degrouping provisions and the anti-avoidance legislation relating to OEICs unit trusts and offshore funds.
The former change is most welcome because ever since the introduction of the exit...
