The monthly review of tax issues affecting the City, by Mark Middleditch (Allen & Overy).
Ashley Greenbank (Macfarlanes) examines the draft regulations issued following the Autumn Statement announcement to prevent the use of cancellation schemes as a means of reducing stamp duty and SDRT costs on takeovers
Simplification is long overdue, claim Paul Emery & Suzi Edwards (PwC)
Toby Price and Martin Walker (Deloitte) consider the potential stamp tax traps arising on IPOs, including pre-IPO reorganisations and overallotment (or greenshoe) options, as well as offering practical solutions
Mark Middleditch (Allen & Overy) provides this month’s update, including: the limits of the purposive approach in tax avoidance cases; accelerated payments and DOTAS; draft changes on loan relationships and derivative contracts; notice clauses in tax indemnities; and the new HMRC Stamp Taxes on Shares Manual
Recent changes to the SDRT regime go against the drive to make UK asset management industry more competitive, writes Suzi Edwards, senior manager at PwC
Your guide to the key measures from the Budget, provided by Lexis®PSL Tax and Lexis®PSL Private Client.
Jonathan Cooklin and David Wilson examine developments for UK companies listing in the US, including the emergence of direct trading of UK shares on US markets.