Helen Lethaby provides this month’s review of recent developments affecting the financial services industry
ConDoc maniaJune saw the release of numerous consultation documents: this article endeavours to pick out the points of interest for the financial services industry.
Controlled foreign companies
The controlled foreign companies (CFC) ConDoc outlines the shape of the new CFC regime to be introduced in Finance Bill 2012 building on proposals published in November 2010.
What is perhaps most striking about the proposed new regime is that – with the possible exception of the new finance company partial exemption (FCPE) which it is not currently intended will be available to the banking and insurance sectors – very little about it...
