‘Rotten to the core’
HM Treasury has published a ‘non-exhaustive list’ of changes made to draft legislation on controlled foreign companies between the February 2012 update and the Finance Bill published on 29 March.
The Chancellor has told the Daily Telegraph that he was ‘shocked’ to see that some the UK’s wealthiest people have organised their tax affairs, within the
‘George Osborne was left “shocked” after an analysis of the tax returns of multi-millionaires which he personally ordered found that they are exploiting loopholes to pay little or nothing at all.
OECD guidelines on transfer pricing and other international tax issues protect the interests of OECD countries only and it is ‘improper’ to suggest that they represent internationally agreed guidance, the Indian government has claimed.
Freshly baked savouries should not be subject to VAT ‘as we don't keep them hot after they've been made nor are they heated for the customer’, said Ken McMeikan, Chief Executive of Greggs, writing in
HM Treasury has published a new tax consultations tracker and listed 38 consultations that it (or HMRC) aims to launch over the next few months, in addition to those already launched this week.
The task of simplifying the UK’s tax system is becoming ‘near impossible’, a leading tax expert said after the publication of the latest Finance Bill, which has three volumes, 227 clauses and 38 schedules.
HMRC has opened a ‘technical consultation’ on the design of the Gift Aid Small Donations Scheme announced at Budget 2011 and set to be introduced in 2013.
HMRC is consulting on proposals changes to the taxation of interest received, and rules on the deduction of tax from interest paid.