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New Tax Legislation In 2012

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Running Time: 6:24

Date: 01/03/2012

New legislation on the taxation of trusts is likely to be introduced this year - 4 options have been suggested

Taxation law is a constantly changing landscape - and never seems to get less complex, despite attempts to simplify it. Tax expert Michael Jones, of Cummings Flavel McCormack, says the taxation of trusts is likely to come in for legislative attention this year, with submissions now in on a number of options outlined late last year. Tax treatment of losses may also be reformed, which he says would be a welcome move for business, as may the taxation of earnouts when a business is sold. Company tax rates could also come in for scrutiny, amid pressure to bring them closer to our Asia-Pacific neighbours.

  

Topics: Accounting & Tax


Michael Jones, Cummings Flavel McCormack