Chris Morgan provides a update on recent international developments
‘Britain's banks may be forced to reveal the breakdown of their corporate tax contributions under a plan from the Treasury Select Committee to demand the information as part of its report on the sector.
The UK/Liechtenstein tax information exchange agreement signed in August 2009 entered into force on 2 December 2010, HMRC announced.
The European Council has adopted a directive aimed at strengthening administrative co-operation ‘to enable the member states to better combat tax fraud’.
The landscape in a key area of UK tax policy is set to change ‘for ever’, a KPMG tax expert said after the European Commission announced that it has formally asked the UK to amend two anti-avoidance regimes.
HMRC has welcomed the Court of Appeal's judgment, released on Friday, in Test Claimants in the Thin Cap Group Litigation v HMRC [2011] EWCA Civ 127.
HMRC recognises that there is a difference between tax planning and avoidance, but will not compromise where it is confident of its analysis of tax law in a dispute, a spokesman has told Tax Journal after BDO
The group studying the case for a general anti-avoidance rule will consider whether a pre-transaction clearance procedure is an absolute necessity, the tax barrister leading the study has told Tax Journal.
A leading firm of accountants has welcomed ‘in principle’ the government’s intention to consider the introduction of a general anti-avoidance rule (GAAR) but has called on the Chancellor to provide clarity about what the UK government perceives to be the tax avoidance that must be tackled.
Mark Minihane and Fiona Thomson provide practical guidance on forex gains and losses