A source at the UK tax authority said the report would look at ‘what works
and what does not work’, as well as ‘how advisers are remunerated’.
Different tax schemes see advisers paid in different ways. Charity tax
arrangements which have seen taxpayers claim back huge sums in an alleged abuse
of Gift Aid rules sometimes see advisers pick up 10% of the relief gained.
The UK has been picked to lead the report on the understanding that it has
carved out a happy medium on tax avoidance, in avoiding the escalating conflicts
between advisers and tax authorities as in the US, and in simultaneously
The moves follow the Seoul declaration, which recently saw OECD countries
agree to a strongly worded statement on the risks to tax revenues and their
determination to tackle them.
The body will examine ‘the role of tax intermediaries (law and accounting
firms, tax advisors and financial institutions) in relation to non-compliance
and the promotion of unacceptable tax minimisation arrangements with a view to
completing a study by the end of 2007’.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...