It seems that implementation of the Vickers report will require a banking group to divide its investment banking and retail banking operations between ringfenced group entities.
Tax might seem to be a relatively unimportant item in the scale of things but I suspect that there may be a number of questions to consider both on implementation and in respect of continuing tax matters.
Tax implications will have to be |
For instance transfers of capital assets between the relevant companies would be made on a no gain...
