Budget 2006: More anti-avoidance measures expected

Article Abstract:

More anti-tax avoidance measures are expected in the 2006 Budget statement, set for March 22, 2006, as the chancellor continues to attempt to plug the tax gap. Tax analysts warn that new legislation will hit at avoidance schemes that are discovered through the disclosure rules, particularly in the case of stamp duty land tax, while an update on changes to the disclosure rules is also on the cards, because the number of disclosures is falling and Revenue and Customs seems keen to assume the worst.

Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis, Tax evasion, Disclosure (Taxation)

Modernizing the machine

Article Abstract:

There are approximately 250,000 expatriates in the U.K and the way their tax is calculated often depends more on custom and practice than precise rules. The Chartered Institute of Taxation (CIOT) believes it is necessary for the U.K. system to start codifying the rules on expatriate taxation, ensuring clearer laws and offering an opportunity to derive rules where the existing position is unclear.

Taxation

Employment taxes update

Article Abstract:

A brief review on the working and developments of the employment tax as on August 2004 are described. Some of them are disclosure of tax avoidance scheme, customer service targets of the Inland Revenue's Center for Non-Residents, and an appeal guidance booklet by The Department of Constitutional Affairs.

Employment tax credit