The Finance Bill has been published on the Parliament website.The Bill has 93 clauses and 26 schedules, and runs to more than 380 pages.
HMRC have reminded ‘tax evaders hiding money offshore’ that penalties for non-compliance will be linked to the ‘tax transparency’ of the country involved, beginning with 2011/12 tax returns.
The Penalties, Offshore Income etc.
Almost 2,000 tax agents and advisers have registered to use the services of HMRC’s team of Agent Account Managers.
‘Angel investors are to be given more tax breaks to encourage investment in nascent businesses as part of David Cameron’s efforts to build an enterprise culture based on the nation’s “doers and grafters”.
‘Britain is open for business’ said the Chancellor last week as he reiterated the government’s ambition to create the most competitive tax system in the G20.
As Tax Journal readers know, the OTS recently delivered two major reports to the Chancellor. Our brief was to make recommendations that would simplify the tax system; it’s up to the Chancellor which to take forward.
James Bullock reviews the Budget 2011 Tax Proposals
The Tackling Tax Avoidance strategy document is a useful summary of how HMRC are trying to strangle tax avoidance at birth, and if that does not work how it will hunt down avoiders and ultimately put them through costly litigation.
Chris Sanger reviews the Budget 2011 Tax Proposals