The government’s 50% tax had failed to curb bonuses but ministers are
consoling themselves with the boost to Treasury coffers the pay outs will bring.
An unnamed source is quoted in the
Times saying that the government understands employers will pay the tax for
those receiving the bonuses.
Treasury insiders, according to the FT, also estimate that the 50% band will
bring a boost to HMRC of around £1bn – much needed revenue at the moment.
Unidentified City figures are reported as saying the figure is wide of the
mark and the true revenues are likely to be as high as £4bn, or more.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...