Businesses should be more transparent about the tax they pay and open themselves to greater scrutiny, David Gauke, the Exchequer Secretary to the Treasury, said in a speech to the Centre for Business Taxation at Oxford University.
The Reporting of Savings Income and Interest Payments (Data-gathering) Regulations, SI 2012/756, revoke regulations that are replaced from 1 April 2012, amend a s
The Finance Act 2010, Schedule 6, Part 1 (Further Consequential and Incidental Provision etc) Order, SI 2012/735, applies a new definition of ‘charity’ for the pu
Legal professional privilege (LPP) protect
The Chartered Institute of Taxation has raised with HMRC several concerns regarding draft legislation designed to counter a tax avoidance scheme, disclosed by Barclays, which sought to avoid the charge on ‘deemed releases’ of loan relationships.
HMRC has announced the following publications and updates:
Child Trust Fund
CTF LA Bulletin 18
Customs and excise
‘Nick Clegg has been forced to soften proposals for a “tycoon tax” less than 48 hours after announcing it as a flagship policy at his Liberal Democrat party’s spring conference.
‘Much evidence’ suggests that HMRC's approach to large business is working well, according to today’s report by the House of Commons Treasury Committee. But ‘close board-to-board working’ might give the impression that ‘preferential treatment’ is given to large taxpayers.
MPs on the Treasury Committee have challenged the logic behind the decision to withhold tax from anonymous Swiss bank accounts at a rate lower than the highest rate of UK income tax.
The Treasury Committee has questioned whether estimating the ‘tax gap’ serves any useful purpose in HMRC’s work and pointed out that encouraging taxpayers to pay the right tax voluntarily is ‘by far the most efficient way’ to close the gap.