Following an announcement in Budget 2016, the government has issued a consultation document on reform of the substantial shareholdings exemption. Trudy Armstrong (PwC) sets out the options being considered.
Following an announcement in Budget 2016 the government has issued a consultation document on reform of the substantial shareholdings exemption (SSE); see www.bit.ly/1O1Q6dL. The consultation is open until 18 August 2016 and taxpayers can respond directly or via advisers. There is no indication of when any reforms might be enacted.
Why was SSE introduced?
SSE is intended to prevent tax on a disposal of shares from:
disproportionately influencing business decisions e.g. discouraging groups from making a commercial disposal; and
encouraging groups to adopt complex offshore holding structures.
What conditions must be met to qualify for...
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Following an announcement in Budget 2016, the government has issued a consultation document on reform of the substantial shareholdings exemption. Trudy Armstrong (PwC) sets out the options being considered.
Following an announcement in Budget 2016 the government has issued a consultation document on reform of the substantial shareholdings exemption (SSE); see www.bit.ly/1O1Q6dL. The consultation is open until 18 August 2016 and taxpayers can respond directly or via advisers. There is no indication of when any reforms might be enacted.
Why was SSE introduced?
SSE is intended to prevent tax on a disposal of shares from:
disproportionately influencing business decisions e.g. discouraging groups from making a commercial disposal; and
encouraging groups to adopt complex offshore holding structures.
What conditions must be met to qualify for...
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:
