STARBUCKS AS CONFIRMED that it paid corporation tax for the first time since 2008 – with more to follow.
The US coffee chain has already paid up £5m with another £5m to follow later this year, following public and political pressure to pay more tax. It has insisted that the lack of corporation tax paid was due business issues, such as high rental costs, rather than aggressive avoidance.
A further £10m will be paid in 2014, after the chain decided against claiming reductions against various transfer pricing mechanisms and capital allowances.
It was now working towards bringing the UK into profitability, moving stores and closing some. It also expects to use franchising and licensing to reduce costs.
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
Lord Howard Leigh of Hurley discusses the government’s initiatives to mitigate tax avoidance and evasion
Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,
While some resistance to change is to be expected, the degree of controversy surrounding HMRC's Making Tax Digital proposals has surprised the government