With the global transaction market taking tentative steps out of the economic downturn, International Tax Review publishes its 2011 Tax Transactional Survey results and discovers that taxpayers are slowly gaining confidence to spend but that advisers are going to have to work harder to get deals done.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap