The IP Finance blog thanks Andrew Clay (Head of IP, Hammonds LLP) for drawing his attention to Proposals for controlled foreign companies (CFC) reform: discussion document, a document published by Her Majesty's Treasury and Her Majesty's Revenue and Customs in January 2010. Writes Andrew: "I do wonder if the section on IP (section 4) shouldn't receive wider attention as these are clearly proposals that could, if implemented, impact on a lot of the IP shuffling that many businesses and their advisers will have an involvement with".The document, 35 pages in all, invited comments by 20 April. However, with the change of government, it may be that late submissions will still be seriously considered.
You can read the proposals in full here.
Note: after posting this, my learned colleague Anne Fairpo reminded me that she has already posted on this very topic here. However, since IP Finance has so many more readers now than it had at the end of January, we've decided to leave today's piece up for the benefit of those readers who missed the original.
