‘There's absolutely no question of HMRC softening its approach to tackling avoidance, and HMRC will continue to ensure that everyone pays the right tax,’ a spokesman told Tax Journal after reports suggested that tax officials were to take a softer stance on avoidance.
The OECD announced the approval of the 2010 versions of its model tax convention, transfer pricing guidelines and report on the attribution of profits to permanent establishments.
Michael Bird and Mark Feldman look at the impact of changes to the debt cap rules
Robert Langston summarises the basic rules and planning opportunities to maximise the benefit of double tax relief
Michael Bird on CFCs
Graham Airs on foreign branch profits
Chris Morgan provides a global update
Radical reforms to the PAYE system, saving employers an estimated £500 million, are among proposals set out in nine tax policy documents released ‘for discussion and consultation’ as Parliament rose for the summer recess.
Draft statutory instruments and explanatory notes were published in relation to Double Taxation Relief and International Tax Enforcement Orders (Austria, Mexico, Oman, Singapore and Switzerland) and International Tax Enforcement Orders (Anguilla, Bahamas, Gibraltar, Liechtenstein and Turks &
The UK’s top rate of personal income tax is ‘substantially above the OECD average and likely to adversely affect work incentives and entrepreneurship’, according to an OECD report. Consideration should be given to reducing the rate to close to 40%, it said.