Headlines Companies with interest expense over £2m pa need to make PIE election and remove other sources of income. All companies must review their financial arrangements for the applicability of the many UK restrictions for deductibility of interest. Companies will be able to claim land remediation relief and utilise group relief with other corporation taxpayers.

There are many reasons why Mr Gove demonstrates his cluelessness, but the suggestion to abolish VAT and replace it with a sales tax is so unintelligent, retrograde and moronic as to be incredible. There is a reason that only the USA insists on sales taxes, apart from having very small brains, and that is it

Please see https://www.linkedin.com/feed/update/urn:li:activity:6527125628951494656. This case had a normal pre-sale reorganisation, a sale of “shares” (see s.75C(1) FA 2003 – as the judge found this as the first step then surely it should be disregarded?) and a normal post sale reorganisation driven by German regulatory requirements. Any advised Vendor would do a bona fide pre-sale reorg.