Banks must sign up to a code of practice by November in efforts to ensure
they pay the right tax while the country tightens its belt on public spending,
George Osborne has said.
The chancellor said only four of 15 British banks have signed the code so
far, which was set up last year by the former Labour government to try to deter
tax avoidance schemes.
“We are going to be looking at the code of practice that the banks were
supposed to sign up to to make them good taxpayers,” Osborne told BBC
“I am going to be requiring by November that all the banks sign up to the
thing that the last government said they were going to be signed up to and pay
what is due.”
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...