A report published in November 2011 by Graham Aaronson QC has recommended that the UK Government should introduce a narrowly focused general anti-abuse rule (GAAR) in order to combat tax avoidance.
Mr Aaronson’s report arrives after an eleven month review and consultation with an advisory committee of industry experts on the possibility of introducing a GAAR in the UK tax system.
Mr Aaronson believes that a narrowly focused GAAR would have a range of benefits.
Tags: Legal, United Kingdom, Tax
The Autumn Statement 2011 issued on 29th November 2011 by the UK Chancellor, George Osborne, confirms the UK Government’s commitment to continue with the tax reforms introduced in Budget 2011 and in last year’s autumn statement.
Tags: United Kingdom, Tax
Where overseas companies and individuals, particularly those in finance related industries or high-level transactions enter into agreements or undertakings which are governed by UK legislation, such parties will ordinarily be required to provide an address for service within the UK.
Tags: Legal, United Kingdom
Tags: Ireland, Legal, Directors, Corporate Governance, United Kingdom
A consultation issued by the Department for Business, Innovation and Skills has proposed plans to allow more small companies to avail of audit exemptions in the UK.
Tags: Legal, United Kingdom, Audit
Tags: United Kingdom, Tax, EU, VAT
The UK Government has now dropped its proposals to introduce a new anti-avoidance legislation to prevent the exploitation of double tax agreements (DTA), based on the consultation responses they received so far.
Tags: Legal, United Kingdom, Tax
The UK Finance Bill 2011 introduces an exemption from UK corporation tax on the profits earned and gains incurred by foreign branches of UK companies.
Tags: Legal, United Kingdom, Tax, Close Companies, Holding Companies
In recent years, in an effort to crack down on international money laundering and tax evasion, nations like the United States, Germany and the UK began investigating just how widespread the practice was. With the assistance of international organisations like the Financial Action Task Force (FATF) and the Organization for Economic Co-operation and Development (OECD), US and European Governments began putting pressure on not only the Swiss, but also tiny Liechtenstein and small Caribbean island nations.
Tags: Legal, United Kingdom, Tax, Banking, USA, Switzerland
In a recent speech delivered at the Institute of Directors Annual Convention, Chancellor George Osborne reiterated the UK Government’s serious attitude to achieving economic recovery.
Tags: United Kingdom, Tax, EU, Economy
