Vodafone faced ‘fresh controversy’ according to press reports after it emerged that the group has no UK corporation tax liability for the year to 31 March 2012 despite having 19m UK customers.
HM Treasury is seeking views on an Office of Tax Simplification proposal for relief against tax charges arising on the disincorporation of a business.
Five thousand homes, each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.
Organisations representing ‘over 1,000 civil society groups’ have called for a new standard requiring companies to disclose publicly their ultimate or beneficial owner.
The government has received EC state aid approval for changes announced at Budget 2012 to the Enterprise Investment Scheme and the Venture Capital Trust scheme, increasing:
The proposed cap on ‘unlimited tax reliefs’ will not apply to donations to charity, George Osborne has announced.
‘We thought it worth posting the full letter from Bob Diamond, Barclays chief executive, to Andrew Tyrie MP, Treasury Committee chairman, regarding HMT’s blocking of two tax schemes (one on buybacks of debt). This involved a rare use of retroactive legislation ...
Barclays has complained to MPs that it was ‘singled out’ when the government announced retrospective legislation in February to impose a tax liability on what the bank described as a ‘tax-efficient’ repurchase of some of its debt.
The Public Bill Committee on the Finance Bill met on 24 May and the following clauses were agreed without amendment:
The government is consulting on a proposal to ensure that ‘controlling persons’ working for an organisation have PAYE income tax and NICs deducted at source.