The UK and Swiss Governments have signed a declaration on the ‘initiation’ of negotiations, expected to begin next year, on the introduction of a flat rate withholding tax on savings income. Critics warned that the deal would protect the identity of tax evaders.
Harvey Smith and Rob Hodkinson investigate expatriate compliance reviews
Anyone sending in a self assessment return for 2009/10 on paper has only a few days left to file the return. HMRC has reminded taxpayers that paper returns filed after 31 October could incur a £100 penalty.
Tax experts will take to the road next month to find out how and where the complexities of the tax system are causing an administrative burden for small businesses.
The Government will work with international partners to explore the costs and benefits of a Financial Activities Tax on profits and remuneration, the Treasury said as it published draft legislation implementing the Bank Levy announced in the June 2010 Budget.
HMRC budget cuts announced in the spending review demonstrate ‘a lack of vision’ and are ‘wholly counterproductive’, according to a union representing senior HMRC officials.
HMRC will reduce resource spending by 15% and capital spending by 44% over the four-year spending review period, the Treasury announced, with £900 million of those savings ‘then being recycled’ to transform HMRC’s work against avoidance, evasion and criminal attack and bring in extra revenue of £
HMRC said it expected to publish four new toolkits for agents on 21 October, Tax Journal reported on 15 October.
In-house perspective from Nick Watson on the role of tax technology
In-house perspective from Tim Branston on tax risk