Global businesses are increasingly centralising their financing functions, looking to increase efficiency by running their finance and reporting functions from shared service centres instead of replicating the entire structure of the function in every country.

HMRC has so far won over three quarters of cases taken to the Courts on schemes and it wants to deter taxpayers from entering into new schemes and encourage those who are already participants to withdraw from them.

Appleby has acted as British Virgin Islands ("BVI") and Isle of Man counsel to Playtech Limited in its redomiciliation from the BVI to the Isle of Man and subsequent move from AIM to a Premium Listing on the London Stock Exchange plc’s Main Market.

The UK's new diverted profits tax (DPT) allows HMRC to apply a 25% charge on profits that it estimates have been diverted from the UK to other jurisdictions from 1 April 2015.

A Guernsey incorporated special purpose acquisition vehicle (SPAC) is the first of its kind to be listed on Euronext Amsterdam, with Guernsey's regulatory framework being cited as a key factor in the decision.

The Securities and Exchange Commission approved the Financial Industry Regulatory Authority's proposed consolidated rules regarding financial responsibility and related operational rules.

HMRC's successful appeal against the owners of the now-liquidated Glasgow Rangers FC is likely to lead to further challenges against Employee Benefit Trusts (EBT) and other loan and benefit schemes that have not yet gone through the settlement process.

The UK has a history of providing generous corporation tax reliefs for the payment of interest compared to other OECD countries.

In BSG Resources Ltd v Vale SA and others [2019] EWHC 2456 (Comm), the English Commercial Court (the Court)

Global businesses are increasingly migrating their finance functions to regional hubs or shared service centres, either through in-house or outsourced operations.

The essence of the arrangement was that Rangers paid monies into the EBT and further into various sub-trusts for the benefit of players and other senior figures within the club.

On 27 March 2013, in one of its last acts before being abolished, the Financial Services Authority announced the outcome of enforcement action against Prudential and its Chief Executive Officer, Tidjane Thiam.