KPMG is concerned that measures introduced in this year’s Budget aimed at countering evasion and avoidance of corporation tax, national insurance contributions and employment, are alienating companies, who fear their legitimate tax planning amounts to fraud.
Loughlin Hickey, KPMG’s UK head of tax, said tax plannng was key to the success of any business.
‘What is needed is a better level of dialogue and constructive debate between business and the revenue authorities. As headline tax rates converge, the UK needs to promote greater understanding and co-operation between business and the tax authorities to remain competitive.’
At the same time Judith Freedman, KPMG’s professor of taxation law at Oxford University, called for a new legislative framework based on principles and for clearer and tough disclosure and penalty rules to help define illegal tax evasion or fraud.
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...