Tag: tax policy

Tinkering with tax reliefs undermines stability, CIOT says

The Chartered Institute of Taxation has warned that “tinkering constantly with rates and allowances in unexpected ways” undermines stability and certainty and reduces international competitiveness. Several changes to tax allowances for businesses are “quietly working their way through Parliament” in the finance bill, the CIOT noted. Taxpayers do not welcome surprise changes and find them disruptive, it said.

My news story for Tax Notes (paywall), December 8: https://www.taxnotes.com/worldwide-tax-daily/tax-policy/tinkering-uk-tax-reliefs-undermines-stability-ciot-says/2018/12/10/28nvq

Peers call for review of ‘disproportionate’ HMRC powers

A House of Lords committee called for a review of the powers available to HM Revenue & Customs, arguing that some powers granted since 2012 are disproportionate and lack effective safeguards for taxpayers.

“HMRC is right to tackle tax evasion and aggressive tax avoidance. However, a careful balance must be struck between clamping down and treating taxpayers fairly. Our evidence has convinced us that this balance has tipped too far in favour of HMRC and against the fundamental protections every taxpayer should expect,” said Lord Forsyth, chair of the House of Lords Economic Affairs Committee.

My news story for Tax Notes (paywall), December 4: https://www.taxnotes.com/worldwide-tax-daily/tax-policy/peers-call-review-disproportionate-hmrc-powers/2018/12/04/28n75

This story was also published in the December 10 edition of Tax Notes International.

UK tax initiatives can wait, professionals say

The UK government should avoid introducing any tax policy initiatives in the October 29 budget and focus instead on addressing the implications of Brexit, tax professionals said.

My news story for Worldwide Tax Daily, published by Tax Notes on October 6 (paywall)