Google tax: European Commission sets out new proposals to crack down on tax avoidance January 28, 2016 The European Commission will today put forward new proposals to crack down on tax evasion and avoidance, as UK politicians continue to spar over Google’s tax payments. Pierre Moscovici, the EU commissioner for economic and financial affairs, taxation and customs, is expected to lay out a series of legally-binding measures intended to close loopholes in [...]
UK and Ireland among 31 countries signed up to OECD tax co-operation agreement January 27, 2016 The OECD has announced that 31 countries have signed up to a new tax co-operation agreement to enable automatic sharing of country-by-country information. Representatives from the 31 countries, which include the UK, Ireland and Australia, signed the Multilateral Competent Authority Agreement (MCAA) at a ceremony today. “Country-by-country Reporting will have an immediate impact in boosting international [...]
Rupert Murdoch slams “posh boys” in Downing Street over Google tax deal January 27, 2016 Media mogul Rupert Murdoch took to Twitter today to blast politicians in the UK and the US for giving Google an easy way out of questions over its tax arrangements. Google recently reached a £130m deal with HMRC over corporation tax claims covering a 10-year period. However, Murdoch referred to the payment as a "token amount", handed over [...]
Managing taxes in the sharing economy: People who make money through Uber, AirBnB and Etsy could be under-stating their profits – and HMRC is coming to get you January 27, 2016 The self-employed tax return deadline is only days away, leaving the many individuals that have made money through sharing economy services like Uber, AirBnB and Etsy struggling to work out what, if any, tax they have to pay this 31st of January. But they have to get clued up fast because Revenue & Customs recently announced [...]
PMQs today: Prime Minister David Cameron turns tables on Labour over £130m Google tax deal January 27, 2016 Prime Minister David Cameron was forced to defend the government's approach to collecting corporation tax today after Labour leader Jeremy Corbyn questioned Google's £130m back taxes deal. "We're talking about tax that should have been collected under a Labour government, raised by a Conservative government," Cameron said at Prime Minister's Questions (PMQs). "No government has done more than [...]
Almost a quarter of freelancers believe they are overpaying their taxes, with much of the confusion arising from not understanding what can be deducted as an expense January 26, 2016 While Google has found itself in the spotlight recently for striking a deal with HM Revenue & Customs (HMRC) to fork over £130m in unpaid corporation tax, many self-employed people are facing almost the opposite problem. According to a survey from PeoplePerHour, nearly a quarter (22 per cent) of freelancers think they have been regularly [...]
Google tax deal: Taxing companies is after all just a stealthy way to tax people January 26, 2016 Another day, another deluge of headlines about a multinational’s tax affairs. It seems that Google’s £130m payment is motivated, in part at least, by concerns over George Osborne’s “diverted profits tax.” He claims it’s a great success, others describe the amount is “derisory .” Both miss the point spectacularly. We shouldn't be taxing companies in [...]
Top Tories demand simpler tax system as they step up to defend internet giant Google January 26, 2016 Leading Conservative MPs lined up to defend Google yesterday as the technology giant’s corporation tax bill came under fresh political scrutiny. “A corporation’s duty to shareholders will be to minimise its tax liability. It should be the duty of those making tax policy to find better ways to limit the elasticity,” Treasury Committee chair Andrew [...]
Downing Street rows back on support for £130m Google corporation tax deal January 25, 2016 Downing Street has distanced itself from Treasury ministers' reactions to the news that Google had agreed to had over £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax. The Prime Minister's official spokeswoman said the deal was a "step forward" but declined to endorse chancellor George Osborne's comments over the weekend that the tax [...]
Tax code needs radical simplification in light of Google’s £130m deal with HMRC, says TaxPayers’ Alliance January 25, 2016 Following the news that Google will pay £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, the TaxPayers' Alliance (TPA) has called for the "radical simplification" of the tax code. "Yet again we have a case that demonstrates why we need radical simplification of our hugely complex tax system," said Jonathan Isaby, chief executive [...]