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Changing tack

31 August 2010 / Pete Miller
Issue: 4270 / Categories: Comment & Analysis , Companies
PETE MILLER suggests that there has been a change of approach to the associated companies rules and the small profits rate


  • The background to the associated companies rules.
  • The unfairness of the mechanistic approach.
  • What happened to the requirement for relevant tax planning arrangements?
  • It is planned that the legislative proposals are to be changed to match the HMRC guidance.
  • Should we return to the original plan?

Following a consultation process that ended in February this year HM Treasury and HMRC have published a response document: Simplification review: the associated company rules as they apply to the small profits rate of corporation tax – a summary of consultation responses. Racing yacht

Despite not being officially a consultation document comments are invited (albeit without a time limit as yet) and the document has new draft legislation that is completely...

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