Controlled Foreign Companies (CFC) Working Groups

The UK government is currently examining and consulting on options to reform the UK’s Controlled Foreign Companies (CFC) rules, which are expected to be introduced in the Finance Bill 2012.

Activities

From the HM Treasury website:

Working Groups of representatives from businesses have been established to complement wider consultation on CFC reform and to discuss options and proposals in more detail. Lists of members are provided below. The first working group meetings were scheduled for January 2011.

CFC Monetary Assets working group

• Neil Harris – BHP Biliton
• Claire Jordan – Diageo
• Tim Voak – Tesco
• Mark James – G4S
• Janine Juggins – Rio Tinto
• John Connors – Vodafone
• David Smith – International Power
• Lindsey Ritchie - Shell

CFC intellectual property working group

   Colin Garwood – Intercontinental Hotels
   Linda Cutler – Kraft
   Helen Jones – GlaxoSmithKline 
   Paul Morton – Reed Elsevier 
   Chatan Patel – Cable and Wireless 
   Robin Booth – Association of British Food 
   Simon Upcott – Cookson

CFC Property working group

   Lucinda Bell – British Land
   Neil Stanford – Standard Life
   Octavia Peters – Segro
   Terry O'Beirne – Capital and Counties 
   Will Chetwood – Aviva 
   Jeremy Moore – Grosvenor

CFC Insurance working group

   Roger Adams – Aviva 
   Rob Clayton – RSA 
   Mervin Skeet – XL Group 
   Kieran Devlin – Prudential 
   Juliet Philips – Lloyds 
   Rob Gill - AIG

CFC Banking working group

• Mike Lomax – Standard Charter
• Geoff Pennells - Citigroup
• Sue Cooper - Schroders
• Carol Boneham - HSBC
• Elizabeth McDiarmid - RBS
• Chris Nunn - Barclays

CFC interim improvements

• Robert Thomas - Xerox
• Stephen Dale – British American Tobacco plc
• Colin Garwood – IHG plc
• Neil Harris – BHP Biliton
• Mike Sufrin – Rolls-Royce plc
• Roger Adams – Aviva plc
• Keith Tucker – Anglo American
• Kathy Bishop – IBM

Resources

Website: http://www.hm-treasury.gov.uk/consult_cfc_reform.htm