11/04/2014

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The PAC and the merits of tax reliefs (Accountancy Age)

On Monday the Commons public accounts committee began its inquiry into “the variety of tax reliefs used in the UK and how they are administered” by questioning HMRC chief executive Lin Homer and Sir Nicholas Macpherson, permanent secretary at the Treasury. The committee says on the Parliament website that it does not consider the formulation […]

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09/04/2014

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Tax-free childcare: the basics (Taxation)

MPs debated childcare provision last night. A new clause to the Finance Bill, tabled by Labour, would have required the government to review before April 2015 “ways in which changes to the tax and childcare systems could be used to increase the affordability of childcare”. The clause was defeated but what I saw of the debate […]

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08/04/2014

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IR35 analysis: ‘Uncertainty in the evidence base’ (AccountingWEB)

A leading tax expert called for clarity over the rationale behind IR35 yesterday, as a Lords committee’s call to re-examine the “longer term case” for combining taxes on income and NICs was backed by AccountingWEB members. Patrick Stevens, tax policy director at the Chartered Institute of Taxation, told AccountingWEB: “At the moment it seems to […]

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07/04/2014

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Lords inquiry lobbies for IR35 reform (AccountingWEB)

Peers have called on HMRC to do more to show that revenue protection provided by IR35 outweighs the cost of the legislation, after a four-month inquiry found that the regime can arouse “considerable hostility” among contractors. Stressing that the present structure of small business taxes provides an incentive for incorporation, the House of Lords personal […]

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31/03/2014

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Why it is misleading to count the ‘cost’ of key tax reliefs

The Commons public accounts committee (PAC) has formally announced its inquiry into tax reliefs and their administration, and as the PAC prepares to question Treasury and HMRC officials on 7 April it is worth bearing in mind that HMRC considers a key element of last week’s National Audit Office report, on which the inquiry is […]

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25/03/2014

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Should HMRC be allowed to collect tax debts from bank accounts?

Last Wednesday’s Budget included a proposal to allow HMRC to recover tax and tax credit debts of £1,000 or more directly from the taxpayer’s bank and building society accounts, including ISAs. HMRC can already seize goods, or take proceedings for recovery of income tax in the courts, and interest is charged on tax paid late. […]

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20/03/2014

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Budget 2014: The detail and the summaries

HM Treasury and HMRC have posted hundreds of pages of information on yesterday’s Budget, and this page is a useful starting point. HMRC’s short overview of the key announcements is here. A longer HMT/HMRC overview of tax legislation and rates etc has more than 170 pages but it deals with more than the Budget. It […]

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19/03/2014

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Fair Tax Mark: Westminster Hall debate and ‘inequality of opportunity to avoid tax’

Caroline Lucas MP and David Gauke, the exchequer secretary, debated the Fair Tax Mark in Westminster Hall yesterday. The debate was sparsely attended but that is not necessarily a sign of a lack of interest. MPs as well as everyone else can now watch debates live – or later, on demand – on the Parliament […]

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15/03/2014

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Budget 2014: A briefing for MPs

The Budget will be delivered on Wednesday 19 March. Every year I have more sympathy with the (very few) people who call for it to be banned. Tax policy announcements and other major developments can now happen at any time, in written ministerial statements and appearances on the Andrew Marr Show, and tax policy and […]

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13/03/2014

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Grow your own fair tax mark

We don’t judge; we build bridges written by Meesha Nehru, project developer at Fair Tax Mark, is worth a read (along with the comments from Ben Saunders), and her FTM colleague Tim Hunt has posted Small start, big impact. He notes that since the launch of the FTM “much has been made of our similarities […]

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04/03/2014

7 Comments

Fair Tax Mark: Corporation tax criteria to be revised

Since I noted on 28 February the cautious welcome given to the new Fair Tax Mark by ICAEW and Baker Tilly, ICAEW’s Tax Faculty team has published a second statement on its tax forum. The cautious welcome remains, but ICAEW stresses that “to succeed [the FTM] needs further work”. A key question for anyone considering […]

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28/02/2014

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The Fair Tax Mark is worthy of constructive debate

I said last weekend that the launch of the new Fair Tax Mark may come to be seen as a turning point in the tax debate, and that the initiative deserves to be considered on its merits. There has been a good deal of debate (mostly on Twitter and blogs) since then, and I would […]

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