A Tax Information Exchange Agreement between the UK and Grenada, signed in March 2010, entered into force on 10 January 2012.
‘Business leaders have come out in support of a proposed new weapon against aggressive tax avoidance, smoothing the way for George Osborne to advance the proposal in next month’s Budget.
Paul Johnson and Stuart Adam provide the view from the Institute for Fiscal Studies on the need for a coherent government strategy for the tax system as a whole.
Chris Sanger weighs up the practical issues facing some of the IFS Green Budget’s prescriptions for growth-enhancing tax reform.
Chris Morgan provides this month’s briefing on international matters, including the latest on FATCA developments.
Real Time Information (RTI) is ‘on track and proceeding well’, according to HMRC, but the ICAEW Tax Faculty has warned that the proposed timetable is ‘unrealistic’. It is ‘alarming’, the Faculty said last week, that there are ‘so many [issues which] are unresolved’.
The general anti-avoidance rule proposed by Graham Aaronson’s study group and now being considered by the government is a realistic response to today’s politics and would create a level playing field in the UK, according to John Bartlett, Head of Tax at BP plc.
HMRC will issue 850,000 penalty notices during the next fortnight for late filing of tax returns. A record 90.4% of taxpayers filed on time this year.