Committee examines R&D, promoters and data proposals
[ad_1] The House of Lords Economic Affairs committee inquiry into the draft Finance Bill 2023-24 received 19 written responses and has heard from five representative bodies, including ICAEW. The Finance Bill Sub-Committee is appointed annually by the Economic Affairs Committee to consider the draft Finance Bill from a tax administration, clarification, and simplification perspective. For […]
ICAEW welcomes HMRC proposals on Terminal Markets Order
[ad_1] The Terminal Markets Order needs updating, but ICAEW questions why the proposed simplification doesn’t go further. HMRC’s consultation on reforming the Terminal Markets Order (TMO) proposed to modernise the legislation that underpins the VAT treatment of certain wholesale commodity transactions. In its response, ICAEW’s Tax Faculty agreed that the TMO needed modernising. It was […]
HMRC’s ‘legislative sandbox’ proposals difficult to implement
[ad_1] In its response to a consultation document issued by HMRC, ICAEW’s Tax Faculty highlighted the difficulties such an approach would cause if used to test potential changes to the administration and operation of the UK tax system. HMRC’s discussion document, The Tax Administration Framework Review: Creating innovative change through new legislative pilots, proposes a […]
ICAEW welcomes off-payroll working set-off proposals
[ad_1] HMRC’s consultation proposes offsetting taxes overpaid by different parties in the labour chain when an off-payroll working employment status determination has been corrected. ICAEW’s Tax Faculty welcomes the proposals in HMRC’s consultation to allow HMRC to account for taxes already paid by an individual and/or their intermediary (eg, personal service company) when calculating a deemed […]
Tax administration and maintenance day proposals
[ad_1] ICAEW’s Tax Faculty is seeking input from members on consultations on a range of issues including IR35, cryptoassets, and reform of stamp taxes on shares. Read the full list of consultations and find out who to contact with your views. The government published 11 new consultations and calls for evidence on tax administration and […]
Reactions to the EU Commission’s company taxation proposals
[ad_1] The EU Commission has proposed for a common set of corporate tax rules across member states. Views expressed both by those giving evidence to the European Parliament’s subcommittee on taxation matters and CFE Tax Advisors Europe suggest that more work is required if the rules are to interact successfully with the other taxation systems […]