Two weeks to 10 October 2019
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
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GAAR Advisory Panel opinion on extraction of value from a company by its directors and shareholders
On 8 October, HMRC published a GAAR Advisory Panel opinion of 7 August relating to the extraction of value from a company by its directors and shareholders. The Panel’s opinion was that the entering into or the carrying out of the tax arrangements was not a reasonable course of action in relation to the relevant tax provisions. Read more here.