Corporate concern over the substance of recent fiscal changes such as the
scrapping of the 10% capital gains tax (CGT) rate, has intensified by the
Treasury’s perceived failure to consult with business, according to a
finance bill committee report.
The highly critical report cited, and supported, the ‘harsh criticism from
the private sector’ of the Treasury’s handling of the CGT and non-domicile tax
changes, the Financial Times reports.
‘Our general impression…was that this year the formulation of tax policy
has been marked by uncertainty of direction,’ the peers said.
Business is now questioning the competence of the department’s officials to
deal with the economic downturn. ‘A lot of people in the Treasury don’t know
what the hell it [a downturn] is and they’re running around like…,’ Richard
director-general, said last week. ‘That contributes to the uncertainty.’
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
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
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more