THE PUBLIC ACCOUNTS COMMITTEE is doing little to advance the tax avoidance debate or get closer to any solution, according to Accountancy Age readers.
An overwhelming 86% of the 60 readers polled felt the committee’s approach is too adversarial and fails to take into account evidence provided, while the remaining 14% feel the committee has done a good job.
The committee – chaired by Labour MP Margaret Hodge (pictured) – has spent a huge amount of time delving into issues around tax avoidance – methods used to drive down tax rates within the law – and how to prevent it. Most notably, representatives of multinational companies accused of avoidance Amazon, Google and Starbucks have appeared before the committee and been heavily criticised for their tax practices.
Last week, tax heads from the Big Four gave evidence and were accused of being too close to government and the legislative process.
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Companies must report on their complex financial structures including offshore accounts and notify HMRC
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The mornings after the night that was the British Accountancy Awards; and Andrew Tyrie's latest thoughts on Making Tax Digital timing
Andrew Tyrie suggests there will not be enough time to implement Making Tax Digital (MTD) by April 2018