Companies should pay a fair rate of tax and ‘move vigorously towards the path of transparency’, the Labour peer and former newspaper publisher Lord Hollick told tax experts earlier this month, as campaigners renewed calls for country by country reporting (CBCR) by multinationals and claimed that
Grant Thornton UK LLP has appointed Kersten Muller as a Property Tax Partner for London. He joins from Deloitte, where he was a director in the real estate team.
‘Questions are now likely to be asked about whether any demands made by donors have worked their way into government policy — a charge that ministers strongly deny.
HMRC accepts that most owners of SMEs want to get their tax right and that the tone of HMRC’s communications with SMEs ‘needs to reflect this better’, the department said in a Budget day note setting out proposed changes to the tax legislation for smaller businesses and how HMRC intends to delive
A targeted anti-avoidance rule intended to counter arrangements to secure a tax advantage in the transition to a new regime for life insurance companies will take effect from 21 March 2012 ‘because there is a significant risk to tax revenue arising from the transition’.
New legislation will address income tax avoidance under the ‘chargeable event’ regime ‘by putting beyond doubt that gains liable to income tax are not reduced where there are certain untaxed gains earlier in the life of the policy or contract, or by the use of certain cluster policy arrangements’
Proposed amendments to CAA 2001 will ensure that rules for calculating the lessee’s disposal value at the end of a long funding lease ‘operate as intended so that the relief available by way of capital allowances does not exceed the net expenditure of the lessee not otherwise relieved’.
Finance Bill 2012 will amend the settlements legislation to close an avoidance scheme involving corporate settlors. The purpose of the changes is to confirm that ‘income arising under a settlement is treated as that of the settlor only where the settlor is an individual’.
The Finance Bill will amend the SDLT rules on a transfer of rights (or sub-sale) ‘so that the grant or assignment of an option cannot be a transfer of rights’.