TaxCorporate TaxPBR 06: Varney report backed to the hilt by Brown

PBR 06: Varney report backed to the hilt by Brown

Varney recommendations adopted in full by chancellor

Gordon Brown today announced he would fully adopt the recommendations of
former Inland Revenue chief Sir David Varney on large business tax.

Sir David had said two weeks ago in a review that measures should be taken to
give business a new clearence procedure which signs off on tax planning schemes
within 28 days.

Gordon Brown says that the new procedures would give large businesses greater
certainty about the tax treatment of transactions and more efficient resolution
of tax issues.

Tax experts have expressed concern that HM Revenue & Customs may not have
the resources to fully implement the new clearence procedures.

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