In a deal thrashed out with trade and industry minister Margaret Hodge,
fellow minister Lord Sainsbury will read out a form of words during Lords
debates on the bill today, making it clear the new provision ‘will not involve
unnecessary listing of all suppliers’.
Lord Sainsbury’s statement will say that the requirement ‘will add value to
the quality of reporting for shareholders without imposing unnecessary costs on
business’ and that ‘the new provision will not be prescriptive or onerous’.
The statement will have legal effect if the scope of the challenged provision
is tested in the courts under the rule that, where legislation is unclear,
judges are entitled to take into account statements made by ministers during
debates setting out the government’s intentions.
The Tories had hoped to throw out the clause in debates today, but the
Liberal Democrats are pledged not just to keep the clauses, but to strengthen
them, tipping the balance of the Upper House in the government’s favour.
"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
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed