United Kingdom Tax Bulletin

    May 2010

    In this issue:

    • Current Rates: The latest rates of inflation and interest
    • Budget 22 June: The broad themes for the Budget are announced
    • US LLCs: HMRC decide to ignore court decision on credit relief
    • Repairs and Improvements: Some interesting judicial guidance
    • IR35: Possibly the end of IR35
    • Share Exchanges: A share exchange does not qualify for capital gains tax relief
    • Entrepreneur Relief: The CIOT clarify some of the rules
    • Capital Gains Tax Avoidance: A scheme fails on Ramsay grounds