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Stop Press: BMBF v Mawson decision
For further information contact Richard Clarke (020 7804 2243; richard.d.clarke@uk.pwcglobal.com)
Online Published Date:
01 December 2002
Appeared in issue:
Vol 7 No 10 - 01 December 2002
Branch Capital – Five Easy Steps?
In this article Simon Leach of the PricewaterhouseCoopers Banking & Capital Markets tax team looks at the draft Guidance Notes on the attribution of capital to banking PEs published by the Inland Revenue on 27 November 2002.
Online Published Date:
01 December 2002
Appeared in issue:
Vol 7 No 10 - 01 December 2002
Highlights of the Pre-Budget Report
The Chancellor delivered his Pre-Budget Report on 27 November 2002. The Report contains very little in the way of new and radical reform. Rather, and not unexpectedly, there is more in the way of a tightening up of existing rules, together with the introduction of a number of anti-avoidance provisions. In this article we have first concentrated on changes of particular interest to the finance sector. A round-up of other changes appears towards the end.
Online Published Date:
01 December 2002
Appeared in issue:
Vol 7 No 10 - 01 December 2002
International Accounting Standards and their tax implications
The radical changes in International Accounting Standards (IAS) over existing local Generally Accepted Accounting Practice (GAAP) are likely to have implications for many companies’ tax calculations either immediately or in the future. This article focuses on why IAS have become so important, what IAS are, and why they might be important for tax. In addition, it includes a discussion of the importance of the statutory accounts for tax, pre and post IAS, and then focuses on the impact of various specific IAS.
Online Published Date:
01 December 2002
Appeared in issue:
Vol 7 No 10 - 01 December 2002
Improved global extranet goes live
Ernst & Young is launching a major upgrade to its global extranet – Ernst & Young Online. The additional services, including improved collaborative tools, faster access to global knowledge and expertise, and enhanced individually..
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
Surrender of foreign tax brings relief
Regulations that allow a company to surrender foreign tax to another company in the same group are to be amended to allow such surrenders to be made by a dual resident company under Regulations (SI 2001 No. 3873) laid before the House of Commons.
A..
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
Government announcement on CGT simplification welcomed
The Government’s change of direction enabling more debentures to qualify for business assets taper relief has been welcomed by The Chartered Institute of Taxation. Simon McKie, chairman of the CIOT’s Capital Taxes Sub-Committee, said:..
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
Inland Revenue gets tougher on transfer pricing
The UK is gaining a reputation for increasingly aggressive treatment of transfer pricing by tax authorities, according to a survey of companies operating under the new UK transfer pricing regime published by KPMG. The new regime has lead to an..
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
The Human Rights Act and tax law
Stephen Weston and Mandy Clark
of Andersen look at the impact of the enactment of the Human Rights Act in relation to tax matters, with specific reference to the ability of the Inland Revenue to impose retrospective legislation upon taxpayers. They also look at the anti-discrimination provisions in the European Convention on Human Rights and the application of Human Rights to tax appeals.
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
Section 209(2)(e)(iii) ICTA 1988 and Limited Recourse Loans
Ross Fraser and Isaac Zailer, Herbert Smith December 2001
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001
The 2001 Pre-Budget Report – changes to corporation tax
David Southern is a barrister in practice at 3 Temple Gardens Tax Chambers. The 5th edition of his Tolley’s Taxation of Corporate Debt, Foreign Exchange and Derivative Contracts (in conjunction with PricewaterhouseCoopers) was published this month. He can be contacted at 020 7353 7884, e-mail clerks@taxcounsel.co.uk
Online Published Date:
01 December 2002
Appeared in issue:
Vol 6 No 10 - 01 December 2001