The committee, which was drafted into study this year’s finance bill, commends the government for its clamp down on tax avoidance but criticises some aspects of the avoidance disclosure regulations, the new tax on small company dividends, the extension of stamp duty land tax to partnerships and the introduction of strip stamps on bottles of spirits.
‘We are not convinced that the legislation as it stands has been sufficiently thought through or exposed for serious consultation with those who will have to deal with its consequences,’ said the House of Lords select committee on economic affairs.
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