Speaking at the Institute of Directors annual convention in London, Clara Furse said she was ‘disappointed’ that no mention of stamp duty was made in the Budget speech.
She added the duty, which does not exist in many other European countries and is 150 times higher than that of the US, could kill the UK’s competitive in global equity markets.
She said stamp duty, along with European Monetary Union, could be lethal to UK plc and would ‘irreversibly damage’ the country’s financial services.
According to Furse, stamp duty combined with EMU would damage the UK’s pre-eminence in the world’s equity markets, which would in turn have a knock-on effect on the City and business.
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
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
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Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay