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In December 2005, the U.S. Court of Federal Claims held that National Westminster Bank, PLC, a U.K.-based multinational bank (NatWest), was not required to apply the formula-based apportionment of interest expense required under domestic U.S. tax law and ruled instead that it was entitled to rely on the properly maintained books and records of its U.S. branch in computing its business profits. In its third decision in the continuing tax dispute, the court provided some valuable guidance on the p

With Brexit negotiations on hold for the UK election, our team looks beyond short-term political uncertainty. We highlight the key international trade risks for your business