New CGT regime for UK substantial shareholdings

In November 2001, the UK government announced that it would introduce a new capital gains exemption for the disposal of substantial shareholdings, and published draft legislation. The new rules will require groups to reassess traditional planning techniques and, indeed, the role of UK companies in t...

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Bibliographic Details
Published in:International tax review 2002-03, Vol.13 (3), p.39
Main Authors: Brannan, Guy, Hardwick, Mike, Walkington, Lynne
Format: Magazinearticle
Language:English
Subjects:
Capital gains
Capital stock
Changes
Corporate tax planning
Effects
Exemptions
Foreign subsidiaries
Intellectual property
Investments
Manufacturing
Multinational corporations
Tax planning
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Summary:In November 2001, the UK government announced that it would introduce a new capital gains exemption for the disposal of substantial shareholdings, and published draft legislation. The new rules will require groups to reassess traditional planning techniques and, indeed, the role of UK companies in their group structures. It is likely that the new rules will have a profound effect on multinational group structures and tax planning. This article outlines the proposed new exemption and considers its likely impact in a number of areas.
ISSN:0958-7594