The Public Bill Committee met on 26 June. It agreed amendments to:
The following clauses and schedules were agreed without amendment:
Ordinary taxpayers unable to avoid tax are ‘horrified’ by the behaviour of a wealthy few who are driven by greed to engage in aggressive tax avoidance schemes, a leading tax writer and lecturer has told Tax Journal.
Abusive tax schemes are anti-social, and ‘more riots in the streets’ will not be far away if aggressive tax avoidance is not tackled, a leading tax lawyer has warned.
HM Treasury is consulting on the proposed design of corporation tax reliefs to help maintain the UK’s status as ‘a world leader at producing animated programmes, high-end television and video games’. The reliefs would be among the most generous in the world, the Treasury said.
HMRC staff were set to strike today in protest against job cuts. Tax offices would be closed, and calls to telephone enquiry lines would go unanswered, the Public and Commercial Services Union (PCS) said last Thursday.
The Public Bill Committee met on 14, 19 and 21 June.
The committee will meet again tomorrow, 26 June, and the House of Commons Report stage of the Bill has been scheduled for 2 and 3 July.
The committee agreed amendments to:
At a seminar organised by Christian Aid and Tolley, ten leading tax professionals give their recommendations on how to design the tax system for a fictional developing country.
The Public Bill Committee met yesterday and clause 24 (Companies carrying on businesses of leasing plant or machinery) was amended in relation to companies moving into tonnage tax.
‘Business must shout louder for the merits of lower taxes or the government will be unable to cut the top rate of income tax to 40p, George Osborne warned yesterday.
The government must be clear on what a proposed general anti-abuse rule (GAAR) will achieve, the Chartered Institute of Taxation said in response to today’s consultation paper.