What is the treatment following the demerger of Burberry from GUS and the new Biffa from Severn Trent.
I believe (from hearsay!) that, although capital treatment has been agreed by the Revenue, the receipt of the 'special dividend' of shares in Biffa/Burberry is income under trust law and therefore belongs absolutely to the beneficiary.
What is the tax effect on (a) the Trust [part disposal / cost reduction / nothing / something else] (b) the beneficiary [taxable income / a tax nothing with no tax to pay / something else]
The shareholder notes for GUS/Burberry do not give the full picture and the documents from SevernTrent/Biffa don't even mention the issue.
Can't find any guidance. Many thanks
Demergers for IIP Beneficiaries (GUS/Burberry - SevernTrent/Biffa)
1 post • Page 1 of 1
1 post • Page 1 of 1
TaxationWeb Limited (Registered in England No. 4571386), 6 Coleby Avenue, Peel Hall, Manchester, M22 5HH, United Kingdom
Information which you supply whilst using this website may be held in our computer records and may be used to send you information which we think might be of interest to you. If you do not want your information to be used for such purposes please write to us at: 6 Coleby Avenue, Peel Hall, Manchester M22 5HH, UK, or email us
Website by Dorifor Internet Marketing | Powered by phpBB
Dorifor Tax Group - our portfolio of tax sites:
