Make tax planning a priority from the outset

Article Abstract:

Tax planning is important for UK management buy-outs and buy-ins which was worth some 3 billion pounds sterling in 1995. Managers should consider tax issues early on and deal structures should be geared to tax needs in order to reduce liabilities. Reliefs of various kinds are available such as interest relief for borrowings to purchase shares and reinvestment relief which can allow capital gains tax to be postponed. Planning for inheritance tax may also be prudent.

Tax Management, Tax accounting, Management buyouts

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Tax credit alert

Article Abstract:

Holders of UK corporate bonds could be affected by changes to advance corporation tax (ACT). Tax credits from income derived from certain bonds will be reduced if the government reduces the ACT level. The amount paid by the government in dividend tax credits is reduced if the ACT rate is cut. Corporate bond holders could find themselves in a worse position than holders of ordinary shares. Bonds paying gross income will not be affected by a change in ACT.

Personal Financial Mgmt, Taxation, Personal finance, Corporate bonds

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