(PwC) predicts the odds are six to one for a 2.5% reduction in VAT to be
announced at next Monday’s PBR, but believes a modest cut of about 1% is more
John Whiting, PwC tax partner, also forecasts the odds are one to two for a
commitment to introduce some form of tax exemption on overseas profits for
UK-based multinationals when already taxed abroad to keep its faith in the
prospect of an improved UK system.
He predicts the same odds for more adjustments for taxpayers who had lost out
in the 10p income tax changes. There were still taxpayers who had not been fully
compensated for the removal of the 10p income tax band from April 2008.
He said the odds were even for a possible cancellation of the 1% increase in
companies’ rate of corporation tax – planned to rise to 22% from and cancelling
the tax rise would be a welcome signal to smaller businesses.
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
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay