Ernst & Young used five law firms around the world in the sale of its global management consulting group to Cap Gemini. The sale still has to be approved by Ernst & Young partners, requiring a qualified majority of all partners and at least 75% of the management consulting group's partners to give their consent. The results should be known in April.
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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