Wilting under the intense heat of public opinion, Starbucks announced its decision to open talks with HMRC with a view to restructuring its tax affairs so it becomes tax paying in the UK. Starbucks did this in direct response to the damage to its brand in the court of UK public opinion. This is understandable given that … Continue reading An ‘extra shot’ for Starbucks: why paying more tax in the UK is a great idea!
We’ve all seen the current media focus on the amount of UK tax that large corporates pay. Will this continue? There seem no good reason why it won’t. As a result, Boards of large multinationals will perhaps become increasingly concerned that a balance is required between the company’s overall tax efficiency and what might be … Continue reading Do you have a PR strategy to deal with negative press comment about your company’s tax affairs?
Recent adverse publicity for Starbucks, Amazon and Google has put transfer pricing at the centre of a very public debate on the responsibility of corporates to pay not only the right amount of tax, but also the fair amount of tax. This debate is set to continue as corporates find themselves under intense public scrutiny, … Continue reading Transfer Pricing in the dock: time for a well informed and reasonable public debate
The Chancellor’s has stated that corporation tax will reduce from the current rate of 24% in 2012/13, to 23% in 2013/14 (announced previously) and to 21% in 2014/15 (this being the news!). This is very encouraging for UK business. On the other hand, however, no doubt spurred on by the recent media outrage over the amount of UK … Continue reading Corporation tax – he giveth and he taketh away?
As expected, the government has announced that a full reform of the controlled foreign companies (“CFC”) regime will be legislated for in Finance Bill 2012, with the new rules to take effect for accounting periods beginning on or after 1 January 2013. The current CFC regime has been heavily criticised by business in recent years … Continue reading Controlled foreign companies