‘The Dutch banking industry has attacked government plans to impose a €300m annual tax on Dutch banks, arguing that any such levy should be introduced across the European Union rather than by individual countries …
Issue 24 of HMRC’s Agent Update includes guidance on the completion of company tax returns:
HMRC have released their twentieth and final ‘toolkit’, dealing with business profits. The toolkits are designed to help tax agents and their clients reduce errors in completion of tax returns.
The House of Commons report stage continued yesterday. No amendments were made to the Finance Bill but there were some interesting exchanges on capital allowances and group filing for companies, and a surprise ‘impact assessment’ for the Tax Personality of the Year award.
More than £25 billion of tax was ‘under consideration’ in HMRC’s Large Business Service (LBS) enquiries at 31 March 2011, but the department emphasised that the estimate did not represent tax owed or unpaid.
Most large business ‘customers’ of HMRC continue to be satisfied with the overall service provided by the department, according to a survey conducted late last year and published last week on HMRC’s website.
HMRC are seeking views on how to ensure that genuine losses incurred in business or employment are relieved against income or gains while deterring taxpayers from entering into tax avoidance arrangements intended to exploit the reliefs.