The TOFA legislation received Royal Assent six months ago and early electing taxpayers may in some cases be already subject to the new rules. There is still time before the first elections re TOFA need to be made.
This presentation covers a number of practical issues that are relevant in determining the potential impact of TOFA and is intended to help with your decisions on the various elections available. This will be a practical analysis supported by case studies covering the following areas.
- a suggested approach to determining the preferable TOFA position
- is tax hedging as beneficial as it appears and how is it achieved?
- when would you consider the accounting based elections?
- TOFA issues still under consultation.