Tax advisers will be scrutinising Monday’s pre-Budget report for evidence
that the government has had a change of heart on its foreign profits plans.
The moves, which will tighten up the taxation of offshore subsidiaries –
which the Treasury believes are for tax avoidance – have alienated companies,
some of which have announced plans to leave the UK.
‘Unless they relax laws in the future then they’re going to see companies
emigrate. Are we going to see some improvements from the PBR? No-one is leaving
because they don’t have a dividend exemption,’ he said.
The ‘Treasury Consent’ regime is likely to be abolished, advisers also
Many argue the concept of the regime has been effectively redundant for some
20 years. Currently, if UK-based companies issue shares or debt overseas, they
must seek government permission.
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...