The Tory party is reportedly coming under pressure over its policy to reduce
the tax deductibility of interest charged on corporate debt.
The party has signalled it wants to cut the tax relief as a way of funding a
reduction in the headline rate of corporation tax.
However, The Financial Times reports mounting opposition. Jeegar
Kakkad, of the EEF Manufacturing group, is reported as saying: ‘Interest
deductibility is potentially too big a price to finance a reduction in headline
Chris Sanger, partner at Ernst & Young, is insisting the relief helped
build businesses in the UK. ‘Any significant change risks making the UK far less
attractive,’ he told the paper.
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
"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
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