Politics

Tax / Trump inauguration: US tax reform tops agenda

Ahead of president elect Donald Trump’s inauguration tomorrow, his victory in the US presidential election has given people reason to start talking seriously about a real possibility of a long awaited comprehensive US tax reform, explains Jeff Whener, Jon Traub and Natalia Mityaeva at Deloitte

Tax / BREAKING: May's 12-point plan for leaving the European Union

Prime Minister, Theresa May, has today outlined a 12-point plan to prepare the UK to leave the European Union, stating that the UK cannot stay in the single market, and has confirmed that parliament will have a vote on the final Brexit deal when it has been agreed

Tax / HMRC plans ‘year-long’ Making Tax Digital pilot

HMRC has confirmed plans to undertake a year-long pilot of Making Tax Digital for ‘hundreds of thousands’ of taxpayers following criticism at the hands of MPs in the Treasury Committee

Tax / EU criticises Hammond's proposed UK tax plans

Ahead of a key speech by Prime Minister Teresa May tomorrow, in which she will indicate how the UK intends to approach negotiations to leave the EU, the Chancellor’s suggestion of a possible cut in the corporation tax rate if there is a ‘hard’ Brexit has attracted strong criticism

Tax / Treasury committee inquiry into £4bn Parliament refurbishment

The Treasury committee is to examine government plans to spend around £4bn on repair work on the Houses of Parliament, saying an inquiry is needed to establish on what basis the funding is required, as a report on the issues from Deloitte is insufficiently detailed

Tax / Better scrutiny of Finance Bill needed, says Tyrie

Finance Bills should be subject to more rigorous scrutiny, particularly tax measures, according to the chairman of the Treasury Select Committee Andrew Tyrie

Tax / Economic trends: inflation and commodity prices could define 2017

As the new year begins to take shape, Laith Khalaf warns inflation and commodity prices could have a significant bearing on 2017

Tax / Interest deductibility rule change will drive up tax bills

Nearly 4,000 large businesses can expect significantly higher tax bills upon the introduction of interest deductibility for corporation tax, says Alvarez & Marsal Taxand managing director Kevin Hindley

Tax / Economic trends: don’t rule out more surprises in 2017

After an unpredictable and turbulent year, PwC senior economic adviser Andrew Sentance predicts a year of further political disruption in the US and Europe

Tax / Elliott: greater investment in HMRC will see avoiders hit hard

Government is investing in HMRC in order to strengthen the tax authority’s anti-avoidance capability, warns KPMG tax director Kevin Elliott

Tax / Nunn: apps threaten to usurp beloved spreadsheet

The Chancellor's well-known love of spreadsheets jarres sharply with the government's Making Tax Digital project, notes Yvette Nunn CTA

Tax / Saint-Amans: greater co-operation the only way to maintain tax sovereignty

Tax sovereignty is incompatible with the globalised world, according to OECD tax policy director Pascal Saint-Amans

Tax / Tribunals to have partial closure notice powers

First Tier Tribunals (FTTs) are to be given powers to issue partial closure notices (PCNs) once the Finance Bill 2017 gains royal assent

Tax / Office of Tax Simplification given permanent status

The Office of Tax Simplification (OTS) has confirmed it is now placed on a permanent footing, with the triggering of legislation in Finance Act 2016

Tax / HMRC fails to set out contingency plan for Making Tax Digital rollout

HMRC has not agreed contingency measures with the Treasury should it run into difficulties with plans to digitise the tax system, and must take action to ensure it has a credible plan to make savings without damaging customer service, according to a report by the public accounts committee (PAC) which says its performance remains below par in several key areas
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