The original proposals calls for managers to be prevented from reclaiming VAT on such things as rent and Reuters’ screens, something they are currently able to do.
But complaints from the industry and fears that the £50bn market based in London could be forced to relocate has led Customs to resume discussions with the industry to ‘listen to its concerns’ the FT reported.
No decision has yet been taken, but an announcement will be made shortly, Customs said.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states