Tax First - September 2009
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September 2009
In this issue we provide an overview of Finance Act 2009 and highlight those areas which will be of specific interest.
We also look at the recent reforms to the controlled foreign company (CFC) regime, HMRC's proposed code of practise for the taxation of banks, examine the foreign profits draft guidance and advise on the best ways to minimise the impact of the new debt cap regime using PwC's debt cap modelling service.
Following changes to European employment law, we outline how internationally mobile employees will now be treated for social security purposes, with a link to the recent PwC webcast on this topic.
The VAT package is of concern to all companies operating across European Union borders and we provide a reminder that urgent action is needed if your business is affected by this change.
HMRC has recently begun a 'new disclosure opportunity' (NDO) for UK tax payers with undeclared offshore bank accounts. We offer an overview of the NDO process with details of PwC's helpline.
Finally, the International Corporate Tax Association events programme will be running again from this month, with a variety of PwC seminars on topics of interest to tax professionals.
