News Archive

Dijsselbloem Warns UK Against 'Going Rogue' On Tax

Eurogroup President Jeroen Dijsselbloem has warned the UK against attempting to establish itself as an "offshore tax haven" post-Brexit.

UK Tax Authority Makes U-Turn On Transformation Plan

HM Revenue and Customs (HMRC) has agreed its estimates of the money it would save by closing more than 100 offices are "unrealistic," according to a report from the National Audit Office.

UK Commits To Improving Tax Industry, Taxpayer Engagement

Financial Secretary to the Treasury Jane Ellison has said she aims to increase transparency surrounding HM Revenue and Customs's performance, saying its customer service "hasn't always been good enough."

Transfer Pricing Behind Jump In UK Tax In Dispute

The amount of tax potentially underpaid by big businesses by shifting profits to other jurisdictions has increased by 60 percent in the last year, to GBP3.8bn (USD4.8bn), according to figures obtained by international law firm Pinsent Masons.

Grant Thornton Hails UK Tribunal's Ruling In VAT Group Case

The UK's First-tier Tax Tribunal has ruled against HM Revenue and Customs's current policy on the recovery of value-added tax (VAT) incurred on professional fees during a management buyout.

UK Proposal To Merge Income Tax, Social Security Welcomed

The Chartered Institute of Taxation (CIOT) has welcomed support from the UK's Office of Tax Simplification (OTS) for its recommendation that National Insurance contributions (NICs) and income tax should be more closely aligned.

HMRC Clarifies Rules On VAT Incurred Prior To Registration

The UK tax authority, HM Revenue and Customs, has released a new Brief (16 of 2016) on the treatment of value-added tax (VAT) incurred on assets that are used by a business prior to VAT registration.

UK Firms' Tax Disclosures Improving, Says FRC

The Financial Reporting Council in the UK has welcomed improvements in the transparency of tax disclosures by the UK's largest companies, but said there is room for companies to better articulate how they account for tax uncertainties.

Governments Easing Tax And Regulation Burdens

The latest edition of the World Bank's Doing Business report shows that there has been a steady improvement in regulatory efficiency around the world over the last ten years, including in the area of taxation.

UK Tax Gap Falls To A Record Low

The UK tax gap fell in 2014–2015 to its lowest-ever level of 6.5 percent, official statistics released on October 20 show.

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