Posted by Christie Malry on October 18, 2012 at 11:56 pm
Peter Watt looks to the future and finds things look bleak for PM Miliband and his Chancellor, Ed Balls. Things are probably a lot bleaker for the rest of us, mind you.
Heather Self, a tax partner at Pinsent Masons, says that there's no need to change tax law as a result of the recent media frenzy over the corporation tax (not) paid by big multinationals in the UK. As I've argued, we allow other businesses to deduct the costs of running their business, including interest costs. So why shouldn't the UK subsidiary deduct the costs of its business, including interest paid to its parent, licensing fees and brand royalties?