Chris Morgan provides your monthly review
What’s hot?Finance (No. 3) Bill 2010/11
There are a number of international tax provisions in the current Finance Bill and at the time of writing the Committee stage is well underway.
A number of government amendments have been tabled including some minor changes to improve the drafting of the provisions on the taxation of foreign branches and the Controlled Foreign Company (CFC) interim measures. It is worth noting that draft HMRC guidance on both these measures has also recently been published.
More substantive government amendments have been tabled in relation to the designated currency election for investment companies in Schedule 7 which will have the following effects:
