9th Dec 2009
- Bank payroll tax of 50% will apply to bonuses paid by banks after the time of the Chancellor’s announcement unless the amounts and entitlement were contractually fixed before the announcement. See technical summary article. (PBRN02)
- The debt cap legislation introduced as part of the package of measures on foreign profits in Finance Act 2009 will be amended as a result of consultation between HMRC and businesses since FA 09 was enacted. The changes are intended to allow the debt cap mechanism to work as intended and to ease the practical application of the rules. (PBRN04)
- Changes to the accounting treatment of financial instruments will impact the tax treatment of those instruments, as the tax treatment follows the accounting treatment. The ch...