Introduction of Targeted Anti-Avoidance Rule (TAAR)

The Finance Bill 2016 introduced a new Targeted Anti-Avoidance Rule (TAAR)  for distributions made on the winding-up of the company. The aim behind this measure is to prevent shareholders of close companies from extracting cash as capital (and thereby being taxed at the more generous capital gains tax rates) rather than as dividends. Members’ Voluntary Liquidations … Continue reading Introduction of Targeted Anti-Avoidance Rule (TAAR)