The change of government leads to a change in tax strategy. The Coalition government wants to slow down the frenetic pace of change and set out a road map of improvements – aimed at bringing more business to the UK. There will also be a new approach to avoidance, with greater focus on the structure of the law, but Ministers have been at pains to make it clear that there is an extreme level of planning than cannot be supported. EU-based claims remain in a quagmire, but 2011 could be the year when HMRC finally pays Marks and Spencer’s loss relief claim. Technology brings a change in approach to tax compliance – and offers opportunities to generate commercial advantages.
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