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STEPHEN WOODHOUSE and THOMAS DALBY explain that employee share schemes can be favourable rather than frightening.

KEITH M GORDON looks at the regulations which amend the disclosure requirements for income tax, corporation tax and CGT.

Wakefield SpC 471; Conde Nast Publications Ltd v CRC; Kittel v Belgium (Case C-439/04), Belgium v Recolta Recycling SPRL (Case C-440/04); Talacre Beach Caravan Sales Ltd v CCE (Case C-252/05); Smallwood v CRC; Marks & Spencer plc v CRC - reference to ECJ from HL 12 July 2006

Changes in the tax treatment of certain trusts has put a dampener on many aspects of tax planning, says JOHN ENDACOTT.

Extracts from HMRC's eighty-third Tax Bulletin.

Franchised businesses

As the Special Commissioner's conclusions were based on findings of fact, HMRC do not consider that the ruling in Balloon Promotions Ltd and Others (SpC 524, see Taxation, 20 April 2006, page 62 for a report of the case) is of general application to other cases involving the sale of franchised businesses. HMRC do not intend to lodge an appeal.

MIKE TRUMAN finds parliamentary understanding of the trust fiasco — but in the wrong house.

KEVIN NICHOLSON considers how a newly established company can use an enterprise management incentives scheme to reward its directors and key employees tax efficiently.

DAVID BOWES considers the present state of play in relation to the valuation of employee shares under ITEPA 2003.

REBECCA MURRAY warns those forming UK groups to beware of the 'false friends' that can cause tax confusion.

NIGEL DORAN considers recent changes in the taxation of phantom share plans.

Barristers CHRIS WHITEHOUSE and EMMA CHAMBERLAIN explain that Finance (No 2) Bill 2006 will cause substantial problems for those trying to draft wills.

BARRY HALLAM investigates the impact of the European Savings Directive on the completion of tax returns. Official guidance seems not to correspond with the legislation.

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