UK business group calls for tax planning ‘white list’

The next UK government needs to accept that there will always be tax competition between countries, and that “authentic tax planning arrangements” should be accepted and encouraged, according to the Institute of Directors.

The IoD supports global initiatives to combat “aggressive tax abuse and avoidance,” it said in a May 11 release. But a tax planning white list would reduce confusion and encourage genuine investment decisions and transactions by “removing unnecessary or perceived tax risks,” it said in a budget submission to HM Treasury in January.

Read more, including details of pre-election representations from CBI, BCC, BRC and EEF:

My news story for Tax Analysts, May 13 (paywall)