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  • The UK Inland Revenue has closed 1 million tax files because it is missing information
  • UK firm Clifford Chance has advised Wates City of London Properties on the £250 million ($362 million) disposal of four properties to Prudential
  • The European Commission has asked Austria to stop granting tax advantages only to local investment funds. Tax exemptions that discriminate against funds from other member states violate Commission rules about freedom to provide services and free capital movement.
  • US firm Paul, Weiss, Rifkind, Wharton & Garrison is advising on a $970 million merger between fragrance manufacturers
  • Slaughter and May is advising Regus in connection with its planned £1 billion-plus ($1.45 billion) listing on NASDAQ and the London Stock Exchange. Headquartered in the UK, Regus is a world-wide operator of business centres, with a network of 200 centres in 40 countries, including Europe, Australasia, Latin America, Russia, Ukraine, Middle East, Africa and the US. Partner Steve Edge is advising on tax matters, with assistance from Gillian Wheeler.
  • The Granada merger with Compass in the UK involves an IPO, a public bid for a competitor, a de-merger and a consolidation of public listings. The result is a huge tax challenge. Sandy Frew of Granada, and Daniel Friel and Karen Hughes of Lovells in London, review the tax issues
  • US firm McDermott Will & Emery is advising Broadbase Software on its purchase of software manufacturer Servicesoft
  • Osborne Clarke is showing its international ambition, welcoming new members to its European alliance, planning mergers and opening offices in Silicon Valley. The firm's tax practice sits at the heart of its global plans
  • Herbert Smith is advising Royal London on its acquisition of Scottish Life
  • Baker & McKenzie has hired Jeff VanderWolk as a partner from Deloitte & Touche, as demand for locally-based integrated US and pan-European tax planning increase. VanderWolk is both English and US qualified.