Helen Lethaby reviews recent developments affecting the City, and reflects on the carrot and stick approach in last month’s Budget.
Budget 2013The Budget on 20 March included the announcement of a few ‘surprise’ late additions to FB 2013 a revised version of which was published on 28 March but most of the proposals have a longer lead time and will be reflected in FB 2014 following consultation periods.
Anti-avoidance with immediate effect: The new FB 2013 provisions are anti-avoidance provisions which once enacted will generally have effect from Budget day.
A number of the new provisions are targeted at schemes designed to transfer losses and other reliefs from one corporate group to another. This sort of planning has clearly been on HMRC’s radar...
