Ian Sandles examines the impact of the new rules on the financial sector
Tony Beare provides an overview of the measures in Schedule 13 of the current Finance Bill
Responses to consultation sent a ‘strong message’ that applying the proposed tax exemption for overseas branch profits to all territories, and the inclusion of chargeable gains, would enhance the competitiveness of the UK regime, HM Treasury said.
Mike Lomax examines the new approach to tax policy making set out in the Tax Consultation Framework
James MacLachlan reviews the Budget 2011 Tax Proposals
Most of the changes that affect international corporate taxation have been announced previously and are part of the move towards a ‘more territorial’ tax system. FA 2011 will complete the interim CFC reform, as a precursor to more fundamental reform in FA 2012.
Next week’s Finance Bill will include legislation to reduce the main rate of corporation tax to 26% from 1 April 2011 and 25% from 1 April 2012. The small profits rate will be reduced to 20%, as announced in the June 2010 Budget, from 1 April 2011.