Cherry, Bekaert & Holland to Host International Fiscal Association USA Triangle Region Meeting

National CPA Firm to Hold Inaugural Meeting of Chapter at Raleigh Office June 20 with Expert Discussing Latest Improvements to Tax Rules for the United Kingdom.

Raleigh, NC, May 17, 2012 --( Cherry, Bekaert & Holland, L.L.P. (CB&H) (, one of the largest national public accounting and consulting firms headquartered in the Southeast, has announced that the International Fiscal Association USA (IFA) Triangle Region will host its first chapter meeting and program on Wednesday, June 20. Kevin Phillips, an international tax partner with Baker Tilly UK, will lead a discussion on the new budget proposals for the United Kingdom. These proposals significantly modify the controlled foreign company rules, making the UK a much more attractive location for holding companies. The new budget introduces a new R&D incentive and reduces the corporate income tax rates as well. Additionally, the budget introduces a tax regime that allows for a 75 percent exemption from income tax for profit from intergroup financing income (this would result in an effective tax rate of 5.5 percent by 2014, when corporation income tax rates reach 22 percent). Considering there is no source withholding under UK law, these developments make the UK a very attractive option for group financing company structures.

The meeting will be held from 8 a.m. to 9:30 a.m. in the CB&H Raleigh office on Glenwood Avenue (2nd floor). Breakfast will be served, and participants will earn one hour of CPE.

To register, visit the IFA USA Branch website at Guests are encouraged to consider joining IFA if they are not currently a member, as it is a great networking forum and excellent venue for exchanging ideas and best practices, and inviting others they know who have an interest in UK tax planning or IFA.

“These new developments are important, especially for companies looking to expand to markets in the European Union,” said Greg Bryant, national corporate tax partner with CB&H’s Raleigh practice. “We encourage all interested parties to attend the inaugural meeting of the IFA Triangle Region.”

About Cherry, Bekaert & Holland, L.L.P.:
For over 60 years, Cherry, Bekaert & Holland, L.L.P. (CB&H) has provided high-quality financial and management services to a diverse and successful client base. Currently ranked among the top 30 accounting firms in the nation, CB&H is uniquely positioned to impart quality, cost-effective and practical advice to clients that include multinational corporations, private businesses, nonprofit organizations, governmental entities, emerging or startup firms, and successful individuals. For more information, visit

About The International Fiscal Association (IFA):
IFA is the premier international tax professional association in the world. In today’s global economy, it is not sufficient for tax professionals to have knowledge of tax matters in the home country, but it is imperative that they are aware of the trends in taxation in countries throughout the world. IFA USA Branch offers the opportunity to gain such a knowledge base through participation in various regional meetings, the annual USA Branch Conference, and the annual IFA World Congress, which attracts between 1,000-2,000 IFA members from branches throughout the world. For more information, visit

Caitlin Russell
MMI Public Relations
(919) 233-6600
Cherry Bekaert & Holland
Patty Briguglio