News Pulse

Pet Lovers Centre (PLC) is a home-grown pet retail and service chain that was founded in 1973 as a family hobby business. The company only rapidly grew since the second generation of the Ng family took over in 1995. Since then,they have expanded to Malaysia and eventually to Asia.

Since July 11, the Singapore tax authorities issued an e-Tax guide on the General Anti-avoidance Provision. In this issue, we share its application and the purpose of effecting tax avoidance. Against a backdrop of increasing global tax scrutiny, these guidelines serve to be less forgiving to those who seek to bend the rules.

Over the past few decades, innovation has become an exciting new buzzword for entrepreneurs and veteran business leaders alike – throughout the course of history, businesses rise and fall, and many are set apart by how well they adapt and exploit new opportunities to achieve that margin.

This document summarises some of the potential implications for the UK tax system of possible changes following the vote on 23 June to leave the EU. Some possible practical tax implications are also noted, though this is not intended to be a comprehensive note of all possible tax implications. Please get in touch with a member of the Smith & Williamson tax team for further discussion of the possible tax implications of the outcome for you and your business interests.