Publishing corporate tax returns would achieve nothing, UK tax experts say

A Labour government would seek publication of tax returns made by “all medium and larger corporations,” party leader Jeremy Corbyn told journalists, prompting tax experts to call for more clarity in public debate …

The party had said in an April 15 release that Labour would “change company law to make sure the largest corporations publish their tax returns in full.” The release made no reference to medium-sized companies. Tax Analysts asked the Labour Party for clarification and to say how it defines a “medium corporation” for this purpose, but no response was received by press time …

Careful use of terminology in the public debate could promote better understanding of tax issues, Stephen Herring, head of taxation at the Institute of Directors, told Tax Analysts. The IoD has noted that the terms “small” and “medium” in relation to companies are often used loosely. Read more:

My news story for Tax Analysts, April 22 (paywall)