Minimize tax on foreign exchange
Article Abstract:
UK foreign currency managers in a corporate treasury position should bear in mind the principles behind foreign currency transactions and their tax consequences. Specific reference is made to: SP 1-87; Imperial Tobacco Co Ltd v Kelly 1943 25 TC 242; SSAP 20; Pattison v Marine Midland Ltd 1984 AC 362; Beauchamp v F.W. Woolworth 1987 STC 279; Reed v Nova Securities 1985 STC 124; and others. SP 1-87 is discussed in detail.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
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It pays to have a long-term tax plan
Article Abstract:
When a business enterprise is being planned and capital is being raised, people usually do not think about taxation situation that may arise later. Yet this could be important as planning in advance may avoid tax problems later. Major tax liabilities to be considered are capital transfer tax, capital gains tax and income tax as it relates to trusts. hypothetical examples are given of how to plan in specific instances.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1986
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