There must be a distinction between ordinary tax planning and aggressive tax avoidance, says Exchequer Secretary
ICAEW needs to respond to changing climate, Head of Tax Faculty tells Tax Journal
Is George Osborne losing the battle to reduce Britain’s gaping budget deficit? Not yet, but the latest figures are far from encouraging, as David Smith reports.
People engaging in tax avoidance schemes that might be considered abusive will be challenged by the tax authorities, will receive little sympathy in court and may be vulnerable to widespread adverse publicity, the Society of Trust and Estate Practitioners warned as it unveiled a five-point ‘progr
Finance Act 2012 is now available on the National Archives website. It has 229 sections and 39 schedules, and the PDF version has 703 pages.
Barclays’ tax procedures were ‘robust and sound’, and the bank fully understood the potential damage to its reputation arising from the use of complex structures, Barclays chairman Marcus Agius told the chairman of the Financial Services Authority weeks after the government announced retrospectiv
HM Treasury is consulting on a proposal to create Decommissioning Relief Deeds specifying the levels of tax relief that companies will receive on the costs of decommissioning used assets in the North Sea.
The draft general anti-abuse rule set out in HMRC’s recent consultation document incorporates all the main principles that Graham Aaronson’s study group considered appropriate for a fair and effective GAAR, Aaronson has said in a letter to David Gauke, Exchequer Secretary.
Tax experts have expressed surprise at the government’s proposal to require taxpayers completing self assessment returns to consider whether any of their tax arrangements were ‘abusive’.