Issue 24 of HMRC’s Agent Update includes guidance on the completion of company tax returns:
HMRC have released their twentieth and final ‘toolkit’, dealing with business profits. The toolkits are designed to help tax agents and their clients reduce errors in completion of tax returns.
Detailed proposals for reform of the UK’s controlled foreign companies regime received a broad welcome from tax professionals but some experts warned that the new rules may not be compatible with European law.
More than £25 billion of tax was ‘under consideration’ in HMRC’s Large Business Service (LBS) enquiries at 31 March 2011, but the department emphasised that the estimate did not represent tax owed or unpaid.
Most large business ‘customers’ of HMRC continue to be satisfied with the overall service provided by the department, according to a survey conducted late last year and published last week on HMRC’s website.
Tax professionals have given a qualified welcome to detailed proposals for reform of the UK’s controlled foreign companies regime.
Jonathan Bridges and Andrew Hickman examine how the proposed measures will work in practice. Plus Tim Watts and Simon Upcott provide views from business