Asda has settled a £115m tax battle with HM Revenue & Customs after the
supermarket chain claimed deductions on excessive royalties paid to its
However, the payment is tax neutral because parent company Walmart will claw
back the tax in the US,
Daily Telegraph reported.
The tax charge was revealed in Asda’s 2009 results, filed yesterday at
Asda said the tax correction was a one-off issue and followed talks with US
and UK tax authorities over several years.
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...