LABOUR is to announce it would reverse the Conservatives’ plans to cut corporation tax in 2015, if it wins the next election.
The Conservatives intend to cut the headline corporate tax rate to 20% – currently 21% – but Labour party leader Ed Miliband (pictured) will pledge to cancel the move at a speech today in Brighton.
“One of the first acts of a new Labour government will be to use all the money that David Cameron wants to spend helping 80,000 big businesses to cut business rates for 1.5 million shops, pubs, workshops and hi-tech firms,” he will say.
The decision would fund the reversal of a scheduled rise in the rates businesses have to pay on commercial properties, the party claims.
The Conservatives’ programme of tax cuts and tax reliefs are designed to stimulate commerce, innovation and entrepreneurialism, although there has been a tension between the policy and fight against contrived tax avoidance.
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