Given the current financial climate, George Osborne had very little he could give away in last week’s Budget but he gave clear signals that the UK is open for business.
Given the current financial climate George Osborne had very little he could give away in last week’s Budget but he gave clear signals that the UK is open for business. A number of changes were announced that will make the UK more attractive to multinationals: changes to the CFC interim improvements and confirmation they will start from 1 January 2011; the further 1% reduction to the headline rate; the announcement of a reduced rate for the proposed CFC partial finance company exemption; and improvements to the planned exemption for foreign branches.
These changes combined with a full deduction for interest expense do make the UK tax regime for international groups look fairly competitive. We have already...
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Given the current financial climate, George Osborne had very little he could give away in last week’s Budget but he gave clear signals that the UK is open for business.
Given the current financial climate George Osborne had very little he could give away in last week’s Budget but he gave clear signals that the UK is open for business. A number of changes were announced that will make the UK more attractive to multinationals: changes to the CFC interim improvements and confirmation they will start from 1 January 2011; the further 1% reduction to the headline rate; the announcement of a reduced rate for the proposed CFC partial finance company exemption; and improvements to the planned exemption for foreign branches.
These changes combined with a full deduction for interest expense do make the UK tax regime for international groups look fairly competitive. We have already...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")