Forty-seven of the UK’s tax reliefs should be abolished because there is no ongoing policy rationale, or they are time expired, or their value is outweighed by the administrative burden, according to the Office of Tax Simplification.
Peter Mantle on Danfoss and claims against the State
Britain’s largest companies paid £5.9 billion in corporation tax, 16.7% of all corporation tax receipts in the year to 31 March 2010, according to a survey conducted by PwC’s Total Tax Contribution team for the Hundred Group of finance directors.
Businesses should consider engaging ‘more forthrightly’ in the tax avoidance debate to address ‘some of the myths and confusion that exist’, David Gauke said today.
‘Barclays' total global tax payments, including payroll-related taxes, were approximately £6bn in 2009, including over £1bn in corporation taxes worldwide.
HMRC will send paper returns this month to employers who have successfully applied for the regional national insurance contributions holiday.
The completed end of year returns should reach HMRC by 19 May. Guidance will be posted on the Business Link website this month, HMRC said.
HMRC have announced new bonus rates effective from 27 February.
HMRC have invited comments on draft amendments to Offshore Funds (Tax) Regulations, SI 2009/3001.
A proposed change to the provision for equalisation was announced last December.
MacIntyre Hudson announced the appointment of Katharine Arthur as a Tax Principal in the firm’s City office in Blackfriars, London.
HMRC have invited comments by 28 March on draft legislation removing the restriction of the right to recover VAT incurred on the business entertainment of overseas customers.