A statement from European leaders, after an emergency meeting last night in Brussels, included a comment about the possible future direction of Irish tax policy.
Life assurance companies in the UK will have to use the amounts they enter in their Form 40 regulatory filings to calculate corporation tax bills, rather than the actual value of the assets underlying those amounts, after the Scottish Widows decision in the Supreme Court in London.
In a triumph for the tax authorities, the Upper Tribunal in London has ruled that the VAT incurred when paying advisers’ fees during an acquisition in 2006 is not recoverable.
Prudential, the UK international financial services group, is expected to go ahead with an appeal to the Supreme Court in London about legal professional privilege.
