TOFA - first election deadline looming!
17 November 2009
The new taxation of financial arrangements (TOFA) regime cannot be left in the too-hard/not relevant basket for much longer. Affected taxpayers need to decide whether they should make any or all of the available elections that deal with the transition to TOFA. This decision has to be made relatively soon (by 15 January 2010 for taxpayers with a 30 June year end) and will require some careful consideration. This Tax Brief is a guide to these transition-to-TOFA elections. For our full Tax Brief - click here