The Treasury published minutes of the 3 August meeting of the ‘Taxation of foreign branches’ working group, and the group’s approved terms of reference. This consultation is set to close on 15 October.
See www.lexisurl.com/g82hx.
The Government’s alternative proposals to restrict pensions tax relief are an improvement on the previous administration’s rules but there are still issues to be resolved to make them workable, said the CIOT.
The Chartered Institute of Taxation has questioned whether it is worthwhile for professional bodies to review draft legislation and provide comments on technical changes.
Peter Cussons reviews the current situation for taxation of controlled foreign companies and foreign branches
Following the publication of the draft legislation, Karen Hughes and Felicity Cullen QC consider where we are now on corporate distributions
The National Association of Pension Funds (NAPF) has welcomed the Government’s alternative proposals to restrict pensions tax relief for those on higher incomes, but warned that ‘unintended consequences will punish savers who are not high earners’.
Christian Aid is seeking to persuade four ‘household name’ companies to back accounting reforms to ‘help poor countries collect more of the tax billions which are rightfully theirs’.
‘Tax regime drives 20% of big businesses to consider leaving UK’ declared a Daily Telegraph headline on 25 August. But the research, conducted by TNS-BMRB for HMRC last year, found that just over 10% of the 1,088 respondents had considered such a move.
A technical note setting out how the ‘regional employer NICs holiday for new businesses’ will work is available via www.lexisurl.com/Dn57B.
Issue 19 of HMRC’s Agent Update includes items on: