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Geldards LLP has the only standalone tax practice in the region. Headed by Andrew Evans, it provides support on corporate matters and commercial property deals, including in relation to VAT and SDLT. Evans also advises start-up companies on obtaining EIS relief for their investors, and advises in tax disputes with the HMRC.

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Legal Developments in Wales for Corporate tax

  • US rules regarding offshore accounts

    The Hiring Incentives to Restore Employment Act 2010, enacted on 18 March 2010, imposes a new US withholding tax and reporting regime, known as the Foreign Account Tax Compliance Act (FATCA). The FATCA regime applies generally to payments made after 31 December 2012, except on obligations (to be defined in future guidance) outstanding on 18 March 2012. Substantial effort is required by foreign entities to bring their worldwide operations and policies into compliance with the FATCA rules as of the effective date.

    - Jones Day

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