TAX POLICY

The Taxation (International and Other Provisions) Act 2010 (Amendment to Section 371RE) (Controlled Foreign Companies) Regulations, SI 2014/3237, come into force on 31 December 2014.

HMRC moving in right direction, says stakeholder report, while IFS scrutinises publishes discussion papers on HMRC's discretionary powers and the role of the OTS

George Osborne’s Autumn Statement contained good and bad news on the deficit but the underlying message is that the public finances are still a long way from being fixed, David Smith reports

The following measures, announced at last week’s Autumn Statement, take place with immediate effect:

Chris Sanger (EY) examines the smorgasbord of tax measures announced this week

Practitioner views on the Autumn Statement:

• Helen Lethaby (Freshfields Bruckhaus Deringer) examines the impact on big business;
• Simon McKie (McKie & Co) reviews the private client perspective;
• James Bullock (Pinsent Masons) considers enforcement and compliance issues;
• David Whiscombe (BKL Tax) assesses the impact on SMEs;
• John Whiting (OTS) gives the Office of Tax Simplification’s view; and
• John Hawksworth (PwC) provides an economic perspective.

Examining recent developments for Scotland, Wales and Northern Ireland

George Bull (Baker Tilly) considers what to expect in the Autumn Statement – the final one before next year’s general election.

The ‘tax gap’ figures for 2012/13 showed that illegal activity costs the UK almost five times as much as tax avoidance. When it comes to reducing tax  avoidance, argues Tony Beare (Slaughter and May), adverse publicity and the desire to maintain a good working relationship with HMRC are the most powerful drivers.