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All the news on the UK tax system – corporation and other corporate taxes, personal taxation, tax avoidance, VAT, transfer pricing, HMRC, the European Commission and other tax bodies

NEWS

IHT crackdown targets the dead

HMRC proves there is nothing as certain in life as death and taxes

Audit commission chief warns Lib Dems

Audit Commission chief executive Steve Bundred has warned that increased choice in health, education and other public services could force taxes up.

Revenue wastes £6m, claims expert

The £6m spent by the Inland Revenue on a nation-wide advertising campaign to persuade taxpayers to submit self assessment forms on time has been a waste of money, according to experts.

Inland Revenue in £1bn accounting bodge

A 'schoolboy error' at the Inland Revenue resulted in the embattled tax collector taking in almost £1bn less in tax revenues than it had previously claimed.

Drugs giant faces £2.85bn tax bill

European drugs giant, GlaxoSmithKline, has been handed a $5.2bn (£2.85bn) additional tax bill by US authorities.

Customs to face flood of VAT claims

Companies should be able to claim back millions of pounds in VAT paid on past and present share issues and AIM listings, according to top ten accountancy firm, PKF.

R&D tax note published

The government launched Designs for Innovation, its consultative note on designing an R&D tax credit for large companies, on 4 December 2001.

New direction on fuel tax.

With the climate change levy, the government has set companies a mission to use less energy and curb carbon dioxide emissions.

Goodwill tax reform welcomed.

Government plans to update the tax on goodwill and intangibles will simplify the rules and leave companies slightly better off.

Brown shuts tax loopholes.

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COMMENT

Editor's letter: Taxation sans frontieres

Life would be easier if all you needed for a corporate tax strategy was the ability to work out what 30% or 35% of any number is. But life is rarely easy, especially when it comes to tax.

Economics: Last hurrah

The Chancellor may have a good forecasting record, but his predictions for next year seem overly optimistic
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FEATURES

US tax hits deferred payments

US tax rule changes will affect UK employee benefits schemes, which could leave workers with huge tax bills

Board tax strategy: Game plan

Tax is expensive, carries plenty of risk and is in need of a properly thought-out corporate policy. Sarah Perrin introduces our guide to global tax strategy, explaining why tax has been promoted to the boardroom agenda.
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ANALYSIS

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