This week’s Accountancy Age/Reed Accountancy Big Question survey asked whether the UK should resist attempts to harmonise taxes in Europe, following pressure from the European Commission to impose VAT on children’s clothing. Of those polled, 74% argued that the UK should resist such moves with only 21% advocating greater tax harmonisation.
Some argued that tax decisions should always remain a local choice.
‘Tax rates, like interest rates, should reflect the needs of the economy of a country,’ said Andrew Pearson of Laser Lines. ‘The state of individual country economies varies greatly and to have pan-European rates is not appropriate.’
There were, however, some who felt that tax harmonisation would be a positive move overall.
‘If we are serious about Europe, then to ensure full free trade, tax rates across the board need to be harmonised,’ argued one respondent.
Companies reported increased levels of scrutiny over their tax planning strategies last year as fewer FDs understand what HMRC considers as tax avoidance, according to HMRC’s latest large business survey
Tax evaders are set to face tough new sanctions under plans detailed by HM Revenue and Customs (HMRC) today
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward