Finance Bill 2008: Government to review potential disadvantages to UK companies from automatic remittance of UK shares | Practical Law

Finance Bill 2008: Government to review potential disadvantages to UK companies from automatic remittance of UK shares | Practical Law

On 2 July, treasury minister Jane Kennedy MP made a commitment to keep under review the issue reported in Update, "Non-dom" reforms: Systemic share incentive tax advantage for non-UK companies over UK companies. She said:

Finance Bill 2008: Government to review potential disadvantages to UK companies from automatic remittance of UK shares

by PLC Share Schemes & Incentives
Published on 08 Jul 2008United Kingdom
On 2 July, treasury minister Jane Kennedy MP made a commitment to keep under review the issue reported in Update, "Non-dom" reforms: Systemic share incentive tax advantage for non-UK companies over UK companies. She said:
"If representations are being made to him [PLC note: meaning shadow treasury minister Mark Hoban MP] that that will undermine the competitiveness of UK companies, I shall want to study them and follow up on them to ensure that that is not happening."
This comment was made during the House of Commons report stage debate on the Finance Bill 2008. The Opposition had proposed amendments (numbers 110 - 113) to:
1) Redress this potential disadvantage for UK companies.
The government rejected these amendments in the debate, and they were not called to a vote.