Herbert Smith has shelved plans to change its tax year, a move which would have seen partners at the firm defer their tax payments for a year. Proposals to move the firm's financial year - which currently runs from April to March - forward a month are understood to have been under consideration by the firm's management for some time but the plan had not been fully laid out to the partnership.Had the changes been made, the firm could have paid its current £50m tax bill for the 2007-08 a year later. It is thought that by deferring when profits were in decline, the tax bill would have to be paid out of a smaller pool of cash.
December 01, 2008 at 10:28 AM
1 minute read
The original version of this story was published on Legalweek
Herbert Smith has shelved plans to change its tax year, a move which would have seen partners at the firm defer their tax payments for a year.
Proposals to move the firm’s financial year – which currently runs from April to March – forward a month are understood to have been under consideration by the firm’s management for some time, but the plan had not been fully laid out to the partnership.
Presented by BigVoodoo
Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
