So far, seven have signed a Commons motion which urges legislative action to create a general anti-avoidance principle in tax law ‘as a matter of priority’.
The motion said that ‘transactions lacking normal commercial substance and solely entered into for the purpose of tax avoidance’ should be ignored for tax purposes ‘thereby providing certainty, fairness and clarity which the UK taxation system required to prevent abusive tax avoidance’.
Grimsby Labour MP Austin Mitchell said his aim was ‘to protect the interests of ordinary citizens who are committed to making their contribution to society’ and ‘to avoid an unnecessary burden of tax on individual taxpayers and to ensure that companies pay fair taxes on profits generated in this country’.
Signatories include Newcastle Central Labour MP Jim Cousins, a member of the Commons Treasury Committee, and Chesterfield Lib Dem MP Paul Holmes.
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
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
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year