Review of budget proposals by Steve Edge and Tony Beare
As was widely anticipated given the imminence of the election the Budget did not contain much that was new. The here and now Immediate anti-avoidance measures
There was the usual raft of specific anti-avoidance rules — some of which had already been foreshadowed — but it is notable that the success of the disclosure regime and also of the 'new relationship with business' means that the Budget is much less a game of 'catch up' than it used to be.
Capital distributions
The press release confirming that clarificatory legislation in relation to the corporation tax treatment of capital distributions is to be enacted with retrospective effect as soon as possible after the election was welcome. Until the re-writing of the dividend legislation in FA 2009 it had never occurred to practitioners that a...
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Review of budget proposals by Steve Edge and Tony Beare
As was widely anticipated given the imminence of the election the Budget did not contain much that was new. The here and now Immediate anti-avoidance measures
There was the usual raft of specific anti-avoidance rules — some of which had already been foreshadowed — but it is notable that the success of the disclosure regime and also of the 'new relationship with business' means that the Budget is much less a game of 'catch up' than it used to be.
Capital distributions
The press release confirming that clarificatory legislation in relation to the corporation tax treatment of capital distributions is to be enacted with retrospective effect as soon as possible after the election was welcome. Until the re-writing of the dividend legislation in FA 2009 it had never occurred to practitioners that a...
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:
