The Inland Revenue must derive a certain degree of satisfaction from the fact that it took the City the best part of a week to appreciate that one of the more obscure sections of the 1982 Finance Bill had overnight ended its favourite pastime of bed and breakfasting-a most skilful exercise in...

While distributional considerations are paramount in the design of personal taxation, they are virtually absent from discussions about company taxation. Few financial journalists have made their careers from articles analysing the implications of the Budget for 'a typical 100-man firm in...

The stock market, take-over bidders, executive pay setters, perhaps Stephen Littlechild himself, even last summer’s weather, all seem to have been undermining RPI-X price-cap regulation. Until recently, price-cap regulation was regarded as demonstrably superior to US-style rate-of-return...

Corporation Tax in the UK has undergone fundamental revisions since its inception in 1965-so much so that the present system bears very little resemblance to the original proposals. It would thus seem important to establish the properties of the product that we are currently consuming and this...