Administering tax has become the top regulatory burden for small business owners, according to research conducted by the Forum of Private Business.
The UK has become less attractive in recent years for firms that ‘rely more’ on capital allowances for plant and machinery and industrial buildings, according to research published by the Oxford University Centre for Business Taxation.
The Finance Bill received Royal Assent on 19 July and became the Finance Act 2011. Peers debated the Bill on the previous day.
HMRC have published a third version of their FAQs on the ‘disguised remuneration’ legislation in Schedule 2 to the Finance Bill, replacing those published in March.
There is public outrage at ‘flagrant’ tax avoidance schemes, the barrister leading the GAAR study group has told Tax Journal, but any proposed general anti-avoidance rule ‘must not have any significant detrimental effect to the attractiveness of the tax regime’.
Graham Aaronson QC talks to Tax Journal editor, Paul Stainforth, about the progress of the study into a general anti-avoidance rule