In commercial relationships as in intra-group structures, there are two types of profit split arrangements. In both types, the participants to the arrangement may make (a) an up front contribution of cash or assets, and/or (b) ongoing contributions of services. The distinction is in the nature of the interest which each participant receives. A Type …

Last week, we were asked by the European management team of a substantial multinational group to advise on a very common scenario in the current environment – a request by made by the overseas parent company to ‘repatriate’ cash, by way of loan. The key issue was whether the directors of the European subsidiaries involved could properly approve …

I thought you might be interested in a question we received last week from an international tax adviser. I’ve set out the question and our answer below. Q: We’re having a number or enquiries from US headquartered groups regarding adjusting TP with UK service companies. I was wondering whether a force majeure clause in an IC agreement could justify …

Sometimes it feels like hard work to keep pushing forward. I have to admit that when I first heard about DAC6, my first reaction was ‘what now?’ And then when I started reading into it, my second reaction was ‘this is a complete nightmare.’ (In case you haven’t come across this little beauty yet, DAC6 is an EU regime which requires the reporting …

The more complicated a decision is, the more important it is to express what’s happening clearly and succinctly. In the legal world, group reorganisations and cross-border restructuring projects are prime examples of this. Board resolutions and other forms of corporate approval are an essential part of documenting the steps involved, and of managing …