More than 2,400 people have registered to disclose unpaid tax under the Liechtenstein Disclosure Facility (LDF), HMRC announced. The LDF is now expected to bring in ‘up to £3bn’ by 2016.
‘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.
Grant Thornton has appointed as a National Director Andrew Cockman, who will focus on growing the firm’s private client team. He is actively involved in shaping tax legislation through involvement with tax representative bodies such as the ICAEW, CIOT and STEP, the firm said.
A round up of new developments
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.
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each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.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: