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INTEREST-DEDUCTION


Tanja Velling (Slaughter and May) reviews a significant FTT decision in which the taxpayers were denied interest deductions on a loan created in an intra-group reorganisation under the unallowable purpose rule.
Kitty Swanson and Simon Rose (Mayer Brown) consider some important tax issues affecting investors in UK real estate.
Card image Andrew Cotterill John Webb Mairead Murphy
Interest deductibility, foreign exchange, withholding taxes... John Webb, Andrew Cotterill and Mairead Murphy (PwC) review the key UK tax considerations for financing transactions and global treasury functions.

Even by the standards of tax cases, the recent case of BlueCrest Capital Management Cayman Ltd & others v HMRC is a difficult read. However, it is worth persevering with, because HMRC has taken the opportunity to test out a number of theories on partnership taxation, with some fairly alarming results for taxpayers.

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