There are still opportunities for some UK corporate clients to use capital redemption bonds to defer...
There are still opportunities for some UK corporate clients to use capital redemption bonds to defer tax, according to offshore insurers. This follows a change in the way these bonds have been taxed since 10 February by bringing them within the loan arrangements provisions. The decision to change the way capital redemption bonds are taxed in the UK came after the Inland Revenue discovered a scheme whereby these bonds were being used to generate artificial capital gains tax (CGT) losses for CGT purposes. Brendan Harper, technical services manager at Friends Provident International, said ...
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