The most recent Tax Bodies articles from Accountancy Age

Treasury moves to harm debt-financed takeovers

Alex Hawkes — 2008-07-24T14:27:00.000Z

Alex Hawkes, Accountancy Age, Thursday 24 July 2008 at 14:27:00

Treasury threatens to move its attack on multi-national tax arrangements to a restriction of interest relief

The Treasury this week threatened to move its attack on multi-national tax arrangements to a restriction of interest relief, potentially hampering foreign companies hoping to carry out big debt-financed takeovers,...

UK taxman closes in on 300 wealthy Britons

AccountancyAge.com — 2008-07-22T08:01:00.000Z

AccountancyAge.com, Accountancy Age, Tuesday 22 July 2008 at 08:01:00

About 300 wealthy Britons who have more than £1bn in secret Lichtenstein accounts are about to face UK tax authorities

In inquiries expected to take up to three years, the first of about 300 wealthy Britons, who have stashed away about £1bn in secret Lichtenstein accounts, have been contacted by...

OECD updates tax convention model

AccountancyAge.com — 2008-07-22T07:36:00.000Z

AccountancyAge.com, Accountancy Age, Tuesday 22 July 2008 at 07:36:00

OECD has approved the 2008 update leaves the model tax convention largely unchanged

The Organisation of Economic Co-operation & Development (OECD) council has approved the 2008 update of the OECD model tax convention, which is left largely unchanged, but proposed a number of...

Non-dom tax rules ‘unworkable’, tax experts say

AccountancyAge.com — 2008-07-21T08:22:00.000Z

AccountancyAge.com, Accountancy Age, Monday 21 July 2008 at 08:22:00

Grant Thornton tax experts warns non-dom tax rules which will receive Royal Assent today are ‘unworkable’

The non-domicile tax rules, which will receive Royal Assent today, are unworkable in their current form and should be subject to wider consultation before being introduced, Grant Thornton says....

Scottish LIT doomed to fail

AccountancyAge.com — 2008-07-21T08:05:00.000Z

AccountancyAge.com, Accountancy Age, Monday 21 July 2008 at 08:05:00

The Scottish government’s plans to replace the council tax with LIT doomed to fail after CIPFA warning

The most damaging criticism yet of the Scottish government’s plans to replace the council tax with a local income tax (LIT) has come from a report released by the Chartered...

CIoT backs qualification call for all advisers

David Jetuah — 2008-07-18T10:52:00.000Z

David Jetuah, Accountancy Age, Friday 18 July 2008 at 10:52:00

Chartered Institute of Taxation says that anyone giving out tax advice should have a formal qualification

The Chartered Institute of Taxation called for a clampdown on unqualified accountants and tax advisers which would mean they would need professionally recognised qualifications before they can provide services....

HMRC’s £2.7bn investment in vain, NAO warns

AccountancyAge.com — 2008-07-18T06:56:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:56:00

A £2.7bn investment to transform the way HMRC works may not pay off, NAO warns

The National Audit Office (NAO) yesterday warned a £2.7bn investment designed to transform the way HM Revenue & Customs (HMRC) works may not pay off....

Tories plan radical rejig of ‘dysfunctional’ Treasury

AccountancyAge.com — 2008-07-18T06:40:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:40:00

A Tory government would radically restructure a ‘dysfunctional’ Treasury

George Osborne, shadow chancellor, says a Conservative government would radically restructure a ‘rather dysfunctional’ Treasury and scale back the department’s Whitehall empire and shake up its much criticised policymaking function,...

Chancellor on course to break 40% fiscal rule

AccountancyAge.com — 2008-07-18T06:18:00.000Z

AccountancyAge.com, Accountancy Age, Friday 18 July 2008 at 06:18:00

Alistair Darling is expected to scrap the 40% fiscal in the autumn to enable more borrowing

Gordon Brown and Alistair Darling are expected to change the fiscal rules in the autumn to enable borrowing beyond the maximum 40% of gross domestic product (GDP) permitted under the...

The simple fact is, change is difficult

Damian Wild — 2008-07-17T17:26:00.000Z

Damian Wild, Accountancy Age, Thursday 17 July 2008 at 17:26:00

Can business life be simplified? The Tories think so. Auditors agree. And the FRC is with them too. It’s turning into a summer of simplification. Or at least a summer of good intentions

Last week shadow chancellor George Osborne unveiled Conservative plans to simplify the UK tax system. Publishing the recommendations of the Howe Group Report into Tax Simplification, a policy group led...

Tax reform: a recipe for disaster

Anne Redston — 2008-07-17T17:17:00.000Z

Anne Redston, Accountancy Age, Thursday 17 July 2008 at 17:17:00

Lord Howe's report on tax reform lacks a vital ingredient

Lord Howe’s recent Making Taxes Simpler report has been widely welcomed, and rightly so. It criticises the exponential growth of the tax code, fiscal complexity and the government’s repeated failures...

HMRC revise expected on service co question

AccountancyAge.com — 2008-07-17T09:12:00.000Z

AccountancyAge.com, Accountancy Age, Thursday 17 July 2008 at 09:12:00

HMRC is expected to publish revised notes with the service company tax question shortly

HM Revenue & Customs (HMRC) is expected to publish revised notes on the service company tax question shortly. The change comes after a meeting between representatives of the Chartered Institute...

Huge payoff for HMRC boss Gray

Nick Huber — 2008-07-16T09:31:00.000Z

Nick Huber, Accountancy Age, Wednesday 16 July 2008 at 09:31:00

Former chairman gets £137,000 lump sum as part of his payoff on leaving HM Revenue & Customs after the discs affair

The former chairman of HM Revenue & Customs, who resigned after the department lost two computer disks containing 25 million child benefit records, has received a payoff of more than...

NAO unveils massive HMRC tax credit errors

AccountancyAge.com — 2008-07-15T07:25:00.000Z

AccountancyAge.com, Accountancy Age, Tuesday 15 July 2008 at 07:25:00

NAO has uncovered as much as £1.5bn may have been overpaid by HMRC in tax credits

HM Revenue & Customs (HMRC) has been forced to develop a strategy to reduce error and fraud after the National Audit Office (NAO) refused to sign off its accounts for...

Darling launches govt industry group

AccountancyAge.com — 2008-07-14T09:48:00.000Z

AccountancyAge.com, Accountancy Age, Monday 14 July 2008 at 09:48:00

The chancellor is launching another government-industry group in a bid to keep London’s financial status as a world leader

The chancellor is today launching a new government-industry group in an effort to keep London’s status as a world leader in financial services....