Offshore tax havens are undermining elected government, hollowing out its tax base and corrupting its politicians but are still ‘growing fast’, according to a new book serialised in The Guardian.
Chris Sanger on the five key tax policy issues
The Treasury launched on 9 December 2010 a consultation on draft legislation for Finance Bill 2011. The following brief outline of the measures is based on the Treasury’s overview and draft explanatory notes.
The Tax Treatment of Financing Costs and Income (Available Amount) Regulations, SI 2010/2929, widen the range of financing costs to be included in the ‘available amount’ by reference to which the debt cap – the ceiling on the total interest and other specified financing expenses which may be dedu
Simon Norris, Head of HMRC Powers, and leading private sector tax professionals Phil Berwick, Kevin Igoe and Aileen Barry took part in a Tax Journal round table discussion on HMRC powers
The total recorded yield from HMRC settlements relating to controlled foreign companies legislation in the financial years 2007/08 to 2009/10 is estimated at £719 million, David Gauke said in a Commons written answer.
Tax advisers have warned that uncertainty caused by a general anti-avoidance rule could harm the UK’s competitiveness.
Peter Cussons on the foreign branch exemption
Chris Sanger reflects on whether the CT roadmap will provide the boost to competitiveness that the government wishes and turn the UK’s tax system ‘into an asset’
Colin Hargreaves on the November 2010 CFC proposals