The taxman has released the long-anticipated guidance on the
that will apply to national insurance contribution tax planning schemes.
NICS were not included in the orginal disclosure regime, as they were not
regarded as a tax. However, following last year’s national insurance act,
HM Revenue & Customs
has moved to include tax planning in this area within the ambit of the the
Lagerberg , head of national tax at Grant Thornton, said: ‘The
rules for NIC disclosure are very similar to those for income tax and capital
gains tax. Schemes have to be disclosed to tight timetable. This is a tightening
of the screw.’
The new guidance comes into effect from the beginning of May.
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