Speaking at a breakfast briefing this morning Ian Barlow, UK head of tax and legal, said: ‘This is a big budget particular for big business’ and warned the UK would be seen as a less attractive base for international business as a result of changes to double tax relief on dividends.
‘Combined with further tightening of the controlled foreign company rules, this will not encourage the use of the UK as a headquarters location against the advantages of competitor locations such as the Netherlands,’ he said.
Gordon Brown yesterday announced that as of 1 July tax on dividends from overseas subsidiaries will be capped at 30% and ended the practices of companies specifying which profits on which it will pay a dividend. The measures seriously curtail the use of so called ‘Dutch mixers’ for reducing the tax liability of UK multinationals.
Joy Svasti-Salee, head of international tax, told hundreds of KPMG clients assembled at the Dorchester Hotel for a Budget breakfast, that though the chancellor had invited consultation on the measure there was precious little time.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy