By Hayes Knight – 22 September 2009

The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill has passed its final stages in Parliament. The Bill will receive Royal assent and become law in a few days time.

The Bill contains some of the most significant reforms seen for many years. They include changes to the definition of “associated persons”, reforms relating to controlled foreign company regime, the introduction of a payroll giving scheme for charitable donations and clarifying the law relating to employer payments for relocation and overtime meal allowances.

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