Two institutes have joined forces in calling for the government to allow
businesses to bring offshore gains into the UK tax free and then concentrate on
In a letter to the Treasury’s financial secretary Jane Kennedy, the CIoT and
the ICAEW put more pressure on the Treasury to grant the long- awaited dividend
exemption before looking into the potential knock-on effects,
the FT reported.
Tax policymakers have raised concerns that the dividend exemption would see
companies pass ‘passive’ income from assets such as intellectual property
through controlled foreign companies in low tax jurisdictions.
However, advisers have said that the repatriation of funds onshore will
actually benefit the UK’s corporate tax take.
Report argues that the government must change the way it makes tax and budget decisions
Political and economic uncertainty behind the fall in confidence
The new team will begin their new roles on May 9, 2017 for a year term
Committee expresses concern about costs to businesses and April 2018 implementation date