The code of practice proposed by Treasury to help crack down on tax avoidance
will undermine the UK as a financial centre, critics from city law firms have
told the Daily Telegraph.
Michael Wistow, head of tax at City law firm Berwin Leighton Paisner, said
that the code would make the UK ‘a less attractive place to do business, which
cannot be helpful in these most difficult times and will further damage the UK
as a major financial centre.’
The code stipulates that banks be expected to follow the ‘spirit of the law’
as defined by HM Revenue and Customs rather than legal precedent.
‘All taxpayers, including banks, should be able to rely on the courts and
Parliament alone,’ he said.
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed