Estimating the tax gap provides an important tool in understanding the causes of non-compliance and helping HMRC to focus on ways of reducing it, Dave Hartnett told the Treasury Sub-Committee yesterday.
Control over corporation tax would provide the Scottish government with a significant new lever to help deliver its ambition to boost sustainable economic growth, according to a paper presented to the UK government last week.
The government has abandoned a consultation – due to close in less than a fortnight – on proposed measures to counter tax avoidance ‘exploiting’ double tax treaties.
George Osborne will deliver his autumn statement on the economy on Tuesday, 29 November. The Chancellor told MPs yesterday that the Office for Budget Responsibility will publish its economic and fiscal outlook on the same day.
The government should revisit tax assumptions used in assessing the value for money of private finance initiative projects and introduce arrangements for sharing gains on the sale of PFI equity shares, MPs have recommended.
The proposed timescale for mandatory pooling of expenditure on fixtures is ‘much too short’ to ensure that the legislation is properly understood and applied, according to the ICAEW Tax Faculty.
‘We all know there are some big names who pay extremely little, if any, UK tax yet continue to be allowed to earn a vast income here. Why does this phenomenon still exist? Why don’t the powers that be simply stop this nonsense from 9am tomorrow morning?
Could the government cut tax to give the economy a much needed boost? Not without compromising its credibility on deficit reduction, argues David Smith