The government makes its own decisions on tax policy and does not take lectures from big business, the CBI’s Director General has told a BBC Panorama programme investigating ‘massive tax savings’ made by multinationals through transactions with Luxembourg subsidiaries.
A new initiative to provide international auditing expertise and advice to help developing countries ‘better address tax base erosion, including tax evasion and avoidance’ has been launched by the OECD’s Informal Task Force on Tax and Development.
HMRC is organising a second public meeting this week to give people an opportunity to ask questions about the proposed Gift Aid Small Donations Scheme. A formal consultation on the measure will close on 25 May.
Five bodies representing freelancers and small businesses on HMRC’s IR35 Forum claim that new guidance on rules to counter tax avoidance via personal service companies ‘fails to take into account key elements in their advice’, according to PCG (formerly the Professional Contractors Group).
Rebecca Murray analyses what a ‘realistic view of the facts’ means in tax avoidance cases involving expenditure.
The Scotland Bill received Royal Assent on 1 May and is now the Scotland Act 2012.
HMRC has published a further reminder to employers that annual returns of employees’ tax and NICs for 2011/12 must be sent online to HMRC by 19 May in order to avoid late filing penalties.
Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
Deloitte has appointed Kit Dickson as a new partner in its information reporting and withholding taxes group within the financial services practice. He joins from KPMG’s investment management team.
HMRC has reminded electricians that the registration deadline for its Electricians Tax Safe Plan is 15 May. Electricians taking part can pay any tax and interest they owe while benefiting from ‘lower penalties of only 10%, with a maximum of 20%’, HMRC said in a press release.