A First Tier Tribunal has this week dismissed an appeal lodged by three companies who had sought to deduct Corporation Tax on contributions to Employee Benefit Trusts (EBTs).
The current VAT system is in sore need of reform, the Office of Tax Simplification (OTS) has argued.
The Chartered Institute of Taxation (CIOT) fears that efforts to tackle businesses accused of misusing a VAT simplification scheme could cause harm to many entirely innocent firms.
One in five of the UK’s micro-businesses know nothing at all about the Government’s flagship Making Tax Digital (MTD) initiative.
Some of the UK’s most influential business groups are urging the Chancellor to take steps to ease the burden on firms in his upcoming Budget speech. Philip Hammond is due to step up to the despatch box on March 8th
The Chartered Institute of Taxation (CIOT) has welcomed the fact that HMRC has rowed back on some aspects of its flagship Making Tax Digital initiative, but has warned that the timetable for implementing the scheme is still “daunting.” The organisation
Officials at the Chartered Institute of Taxation (CIOT) have said that the Government should use its upcoming Budget as “a springboard” for a change in direction on tax.
Chancellor Philip Hammond this week made clear that the Government would take decisive steps to ensure Britain remained attractive to global businesses, even if it was unable to achieve the trading relationship it wanted following Brexit negotiations.
New research has revealed that the UK’s biggest firms contributed more than £80billion in tax over the course of 12 months.
Concerns have been raised that additional reporting requirements relating to corporation tax may put an undue burden on many businesses. Details of a number of new rules have been laid out in the Finance Bill 2017, with the Government arguing