Examining the unprecedented tax issues facing the UK banking sector.
Gareth Miles and Tom Jarvis highlight points to watch in practice.
Chris Morgan provides your monthly review, including coverage of the decisions in Santander and Philips and Australia's Federal Budget.
The Court of Appeal ruled unanimously in favour of the taxpayer in First Nationwide concerning dividends from share premium. Matthew Herrington reviews the wider implications.
Kunal Vyas and Kevin Cummings review the UK tax regime, and suggest that the often knee-jerk reaction of many originators and market participants to go offshore is, in many cases, unnecessary.
The government is proposing to broaden the netting provisions within the bank levy to ensure that they cover the full range of commercial transactions that are included within netting arrangements.
There was little in the Cannes summit declaration to cheer proponents of a global tax on financial transactions.
President Sarkozy of France is prepared to do ‘everything possible’ to get the G20 to move towards the adoption of a financial transaction tax, The Times reported ahead of this week’s G20 summit in Cannes.
The Chancellor has made it clear that he would support a ‘world financial transaction tax’ in principle, but claimed that an FTT operating only in Europe would result in the relocation of UK-based business to the United States.