HMRC are seeking views on how to ensure that genuine losses incurred in business or employment are relieved against income or gains while deterring taxpayers from entering into tax avoidance arrangements intended to exploit the reliefs.
Tax professionals have given a qualified welcome to detailed proposals for reform of the UK’s controlled foreign companies regime.
The Finance Bill began its report stage in the House of Commons last night, when MPs debated the Bill for almost nine hours.
A new clause introducing transferable personal allowances for married couples was defeated by 473 votes to 23.
HMRC are conducting an online survey to help them to understand how corporation tax statistics are used.
The study group considering the merits of a introducing a general anti-avoidance rule has reached consensus on the potential advantages of a GAAR for the UK, and what concerns such a rule would need to ‘address and allay’.
Ian Sandles examines the impact of the new rules on the financial sector
The UK has been ranked behind five major competitors on personal and business taxation, according to a Populus poll for The Times in which voters were asked to rate the UK’s ‘performance’ in terms of ‘the level of personal taxation’ and ‘the level of taxes on wealth creation’.