Research and analysis

Compensating adjustments technical note

A technical explanation and draft legislation on reducing avoidance involving 바카라 사이트榗ompensating adjustments바카라 사이트� in the transfer pricing code.

• From: HM Revenue & Customs, HM Treasury and The Rt Hon Danny Alexander
• Published: 18 September 2013
• Last updated: 30 October 2013 바카라 사이트� See all updates

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Details

The government is taking action to stop people avoiding tax by using rules known as compensating adjustments.

This follows the Chief Secretary to the Treasury Danny Alexander바카라 사이트檚 announcement on Tuesday 17 September concerning proposals to reduce tax avoidance involving 바카라 사이트榗ompensating adjustments바카라 사이트� in the transfer pricing code.

The rules, which are designed to avoid double taxation between individuals and connected companies, are increasingly being used by individuals to reduce their income tax bill.

Following a period of informal consultation on technical detail the government is publishing draft legislation for inclusion in Finance Bill 2014 effective from 25 October which changes the law to remove this avoidance opportunity.

This technical note includes draft legislation with detail designed to explain the operation of the new rules.

A Tax Information and Impact Note for this policy was published on 30 October 2013.

Published 18 September 2013

Last updated 30 October 2013 + show all updates

1. 30 October 2013

   Tax information and impact note published

2. 25 October 2013

   Updated to include draft legislation and discussion note.

3. 18 September 2013

   First published.