Corporate Tax

TAP Advise on Feel Good Group Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent Feel Good Group / Perwyn private equity deal providing providing tax advice to the management team. The Feel Good Group, is behind the well-known Tanning Shop brand one of the largest operators of it's kind in the UK. Dow Schofield Watts Corporate Finance initiated and led the transaction. Advisers to management were: legal – The Endeavour Partnership; tax - Tax Advisory Partnership. Advisors to Perwyn and HSBC were: financial ... Read More

TAP Advise on Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent Business Growth Fund (BGF) / Ultra Finishing private equity deal providing providing tax advice to BGF.   The investment was led for BGF by Taylor, Barry Jackson and Rob Johnson.  Advisers were Pinsent Masons, DSW and Tax Advisory Partnership for BGF, while Shulmans and CBF Capital advised Ultra Finishing. Read More

TAP Advise on Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent WHP Facilities private equity deal providing providing tax advice to Enact, an SME fund which is part of the Endless private equity house. Read More

TAP Advise On Propercorn Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent Propercorn Private Equity Deal providing providing tax due dilligence in support of the financial due dilligence provided by Sentio Partners to Piper Private Equity and JamJar for their joint £7m investment in Propercorn, the UK’s fastest growing popcorn brand.       Read More

Important tax changes to members’ voluntary liquidations

From 6 April 2016 the Government is making major changes to the way in which certain distributions from companies in members’ voluntary liquidation (MVL) will be taxed. This could result in significantly increasing the tax payable by shareholders of companies entering into MVLs. What are the changes? Currently, post-liquidation distributions are classed as capital and are taxed as capital gains. This treatment generally attracts significantly lower levels of tax than if shareholders pay themselves dividends in order to extract company value. This is ... Read More

International tax developments

Embracing the global economy In an increasingly global marketplace, governments around the world are focussing on where profits are taxed and where they should be taxed. In 2013, the OECD and G20 countries agreed to adopt a 15 point action plan to address tax base erosion and profit shifting (“BEPS”). The first set of reports and recommendations to address seven of these actions has been released this week. The BEPS project is the most significant reform of international tax ever and will have ... Read More

Using pension arrangements in your business

It is often forgotten that pension funds can offer an alternative and tax efficient solution to buying commercial property. A Self-Invested Personal Pension (SIPP) or Small Self-Administered Scheme (SSAS) offer flexible arrangements that permit investment in commercial property.  A SIPP is an arrangement established by an individual, whereas a SSAS is established by the employing company.  It is possible for the schemes to borrow money to part fund the acquisition of the commercial property, although there are restrictions on the amount that ... Read More

TAP Tax Policy

The 2014 Budget is now less than a week away, and with increasing messages of improvement in the British economy and the General Election looming next year, will the Chancellor jump early to offer tax cuts.  We think there is a strong chance he will indeed want to make such a big political statement. This got us thinking.  If we were Chancellor, what tax policies would we adopt in the forthcoming budget ?  We think some fundamental changes need to be made. True ... Read More

Partnership Profit Allocations: All Mixed Up

It was announced in the 2013 Budget that a consultation document would be published, which focused on two main aspects of partnership tax.  The areas under consultation were profit and loss allocations in mixed partnerships and the automatic assumption that LLP members are self-employed for tax and national insurance purposes. Following the consultation period and Decembers “Autumn” Statement, draft legislation has now been published which targets these arrangements and our comments are provided below.  In your review it is also worth noting ... Read More

Eurobonds; what’s all the fuss about?

A national newspaper has recently run a series of articles that highlight the perceived abuse of a tax exemption involving many high profile companies.   In our view, this appears to be another case of journalistic over simplification to create a problem that doesn’t really exist. The issue at the centre of the articles is the fact that no withholding tax (“WHT”) is deductible from interest paid on quoted Eurobonds.  This means that where a UK company receives a loan from overseas, ... Read More
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