The Chancellor has announced government support to help local authorities freeze council tax for a second year.
The government has invited proposals for new Enterprise Zones in areas affected by last week’s announcement by BAE Systems of up to 3,000 job cuts at Brough in Yorkshire, and Samlesbury and Warton in Lancashire.
Michael Jack and John Whiting have been appointed as the permanent Chair and Tax Director respectively at the Office of Tax Simplification, and will oversee the OTS’s work for the remainder of the Parliament.
The financial sector is ‘under-taxed’ and an EU-wide financial transaction tax would ensure that it makes a fair contribution at a time of fiscal consolidation in the Member States, according to the European Commission.
Tax experts who have been calling for a statutory definition of ‘residence’ for many years have welcomed proposed reforms but flagged a number of issues to be addressed.
Detailed proposals for reform of the controlled foreign companies regime do not reflect the government’s ‘high level aims’, according to the Chartered Institute of Taxation.
HMRC beat a hasty retreat on treaty anti-avoidance but it remains to be seen whether the OECD will back off from the ‘beneficial ownership’ debate, explains Helen Lethaby in this month's briefing
The tax gap was £35bn in 2009/10, according to HMRC’s estimate released today. The department has revised its £42bn estimate for the previous year to £39bn.
Corporate tax incentives for debt finance and ‘very low’ taxes on capital gains may have played a minor role in creating or facilitating the financial crisis, according to the Mirrlees review of the UK’s tax system.