KPMG has noted that only 13% of respondents in a survey of large businesses operating in the UK said the 50% rate of income tax was proving a barrier to attracting senior talent, compared to 80% who anticipated difficulty when asked in 2009.
Growing public anger over executive pay increases the likelihood of reputational harm to businesses and ‘can lead to public protests like those carried out by UK Uncut against the Top Shop boss Sir Philip Green’s alleged tax avoidance’, according to the High Pay Commission.
The Institute of Directors has welcomed Graham Aaronson’s report on a possible general anti-avoidance rule (GAAR) and noted that the report recommends a well-targeted, moderate rule that ‘should only bite on tax planning that is clearly abusive’.
A wide range of views on the pros and cons of a general anti-avoidance rule has been reflected in Tax Journal’s ‘One minute with ...’ series of interviews with leading practitioners.
In arguing for investment into infrastructure to help rebalance the economy, Margaret Stephens and Mikko Saressalo look at how taxation can achieve this.
Employers and tax and payroll professionals were invited to help the government explore options for the operational alignment of income tax and national insurance contributions, after a recent call for evidence drew more than 70 responses and suggested a ‘clear appetite’ for reform.
The Forum of Private Business welcomed the government’s announcement that from 1 April 2012 Low Value Consignment Relief (LVCR) will no longer apply to goods sent to the UK from the Channel Islands.