Top tax topics for the autumn Budget
With the party conference season just around the corner and the Chancellor's autumn Budget statement likely to be presented towards the end of November (or sooner if the Government decides to bring the date forward due to Brexit), tax is firmly back on the agenda. We consider some of the possibilities and ask how Philip Hammond’s style differs from that of his predecessor George Osborne.
Requirement to Correct – the age of innocence has passed
In their initial Requirement to Correct (RTC) consultation document HMRC stated that ‘we are looking for the RTC to address all non-compliance irrespective of the underlying behaviour or motivation’. With the 30 September RTC deadline rapidly approaching, are all affected taxpayers aware of their obligations?
Saints or sinners? Tax honours debate is not that simple
The withholding of honours for individuals whose tax behaviour is not whiter than white has hit the headlines again, but with no change in the vetting approach. Let’s not kid ourselves that there are only two types of individuals – tax saints and tax sinners. Tax, like life itself, is never that simple.
Is ‘Google tax’ in place to change behaviour rather than to just raise taxes?
Receipts for the so-called ‘Google tax’ or diverted profits tax (DPT) are up, which could be heralded as a success in clamping down on tax avoidance, but DPT’s real function is to force companies to address their transfer pricing policies and international structures.
Worst tax relief in the UK? Is Entrepreneurs’ Relief on the chopping block?
Entrepreneurs’ Relief (ER) is one of the most expensive reliefs for HMRC and it is forecast to cost £2.7bn in 2018. With the Resolution Foundation thinktank recently expressing the view that ER is ‘quite likely the worst tax relief in the UK’, is it possible that the Chancellor might reach a similar conclusion and introduce changes in the next Budget?