The tribunal gets itself into a difficult position, writes Graham Elliott (Withers)
The International Consortium of Investigative Journalists (ICIJ) has published leaked documents setting out tax deals that some of the world’s largest multinational corporations struck with Luxembourg.
HMRC has announced that two-thirds of the 800 biggest businesses operating in the UK are under enquiry. Jennie Granger, director general of enforcement and compliance at HMRC, told an HMRC stakeholder conference that most of the enquiries cover multiple issues.
Striking off
Adjournment due to chronic ill health
Contract settlements and the tax tribunals
Jurisdiction of the tax tribunals to hear connected appeals
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.
Michael Thomas (Gray’s Inn Tax Chambers) reviews the lessons from recent case law.
When will interest rates go up? Certainly not before the end of this year, and possibly not before the end of 2015, as the Bank of England finds reasons to delay, explains David Smith