Functional currency of investment companies: draft Finance Bill 2011 clauses | Practical Law

Functional currency of investment companies: draft Finance Bill 2011 clauses | Practical Law

The government published draft legislation that stops companies with investment business avoiding tax by changing their functional currency and allows them to choose, prospectively, a functional currency for tax purposes on 9 December 2010.

Functional currency of investment companies: draft Finance Bill 2011 clauses

Practical Law UK Legal Update 5-504-2120 (Approx. 6 pages)

Functional currency of investment companies: draft Finance Bill 2011 clauses

by PLC Tax
Published on 14 Dec 2010England, Wales
The government published draft legislation that stops companies with investment business avoiding tax by changing their functional currency and allows them to choose, prospectively, a functional currency for tax purposes on 9 December 2010.