http://taxreform.cbi.org.uk CBI Tax Reform RSS Feed (http://taxreform.cbi.org.uk) en-corp CBI 20 October 2011 GMT 15 http://taxreform.cbi.org.uk/latest_news/00132/ 10 February 2009 The Government must resist the temptation to allow the much improved and more user-friendly RD tax credit to wither on the vine. During a recession, business needs all the support and encouragement it can get. In publishing new survey findings showing that companies doubled their savings on r... Latest news http://taxreform.cbi.org.uk/latest_news/00133/ 15 July 2009 CBI Director-General, Richard Lambert, on 1 Junemet the FST, Stephen Timms, at the Business/Government Tax Forum, to take forward the CBI's tax agenda. Topics discussed were: The UK Economy Analysis and Trends Budget 2009 rates of personal tax, pensions changes and new tax reporting ... Latest news http://taxreform.cbi.org.uk/latest_news/00135/ 08 March 2009 CBI Taxation Policy Group has responded to the Treasury's latest consultation on the taxation of foreign profits.We have welcomed the government acceptance of our proposal that foreign dividends should be exempted from UK taxation in finance bill 2009. But we believe that there are numerous pr... Latest news http://taxreform.cbi.org.uk/latest_news/00140/ 03 April 2009 The CBI has submitted a list of business priorities for the Government's new, 2009, review of the taxation of controlled foreign companies. CBI stresses that the review must result in enhancement of the UK's international competitiveness and that present uncertainty about this element of taxing ... Latest news http://taxreform.cbi.org.uk/latest_news/00151/ 23 April 2009 Budget overview: Responding tothis year'sBudget, CBI Director-General Richard Lambert highlighted first of all the failure to set out a rigorous and credible path for restoring the public finances to health, arguing that there is a clear risk that investors will prove unwilling to finance UK debt.... Latest news http://taxreform.cbi.org.uk/latest_news/00156/ 15 July 2009 The European Commission has issued new guidelines which aim is to ensure the correct, coherent and uniform application of the VAT grouping option. These guidelines seek to address the wide divergences, whcih have emerged between the VAT grouping schemes implemented by Member states in their na... Latest news http://taxreform.cbi.org.uk/latest_news/00158/ 13 August 2009 HMRC have issued draft guidance on: Dividend Exemption CFC rules Debt cap - Anti-avoidance rules distribution Exemoption legislation Ifyou have anycomments on this or any other aspect of the foreign profits consultation proposals, please let us know. Thesedraft gui... Latest news http://taxreform.cbi.org.uk/latest_news/00159/ 13 August 2009 HM Treasury have released a policy principles document that outlines the current thinking on policy drivers, objectives and principles to support the reform of the CFC rules. This document provides parameters to facilitate discussions over the coming months, where the focus will be on the scope and... Latest news http://taxreform.cbi.org.uk/latest_news/00160/ 14 August 2009 HMRC have published their guidance for Senior Accounting Officers of large qualifying companies following their announcement at Budget 2009 and consultation with interested external parties. This makes Senior Accounting Officers of large companies responsible for ensuring and certifying that app... Latest news http://taxreform.cbi.org.uk/latest_news/00180/ 09 June 2010 Please note that HMRC areswitching from paper to online Company Tax Returns From 1 April 2011 onwards, all companies and organisations must submit their Company Tax Returns online for any accounting period ending after 31 March 2010. You can use HM Revenue Customs (HMRC) free software, commercial... Latest news http://taxreform.cbi.org.uk/latest_news/00181/ 10 June 2010 The Commission has recently published a consultation to find out aboutdouble taxation problems encountered by companies with cross-border activities. This consultation covers all direct taxes (income, corporate, capital gains, withholding, inheritance and gift taxes) and invites suggestions on... Latest news http://taxreform.cbi.org.uk/latest_news/00182/ 10 June 2010 The CBI has long argued, most recently in our Tax Task Force Report, for a review of the UK's CFC rules to take account of globalisation and changes in business practice with the aim of enhancing our international competitiveness,we have therefore welcome the Government's recognition of our argume... Latest news http://taxreform.cbi.org.uk/latest_news/00183/ 14 June 2010 The CBI has set out the measures the government should implement to ensure a balanced budget while maintaining good public services. The report, A time for action: reforming public services and balancing the budget, says that the public sector must control labour costs by freezing its pay bill for ... Latest news http://taxreform.cbi.org.uk/latest_news/00184/ 25 June 2010 Following this week's Budget, the CBI said the Chancellor achieved his twin objectives of setting out a credible plan for the public finances and producing a convincing growth strategy for the longer-term. CBI Director-General Richard Lambert welcomed the recognition of the role business needs to p... Latest news http://taxreform.cbi.org.uk/latest_news/00185/ 25 June 2010 The Chancellors announcement on bringing the Corporation Tax rate down in stages from 28p to 24p marks a significant return on the CBIs tax competitiveness campaign of the last two years. Notwithstanding the changes to capital allowances, this is the first time that the government has accepted that... Latest news http://taxreform.cbi.org.uk/latest_news/00186/ 25 June 2010 The governments decision to consult on the CBIs alternative proposal for reforming high-rate pensions tax relief is a major breakthrough for business. Reducing the annual allowance results in a much lower administrative burden on business as well as being fairer on employers. Latest news http://taxreform.cbi.org.uk/latest_news/00187/ 01 July 2010 The European Commission has published a paper examining the extent to which the taxation of company cars artificially promotes its use which the CBI Taxation Committee will be considering. The EU paper can be accessed at the Commission's website . Latest news http://taxreform.cbi.org.uk/latest_news/00188/ 02 August 2010 The CBI attended a business roundtable with the Exchequer Secretary, David Gauke, this week at which he explained the Government's forward programme of tax consultations and discussed how best to engage with businesses and representative groups. Latest news http://taxreform.cbi.org.uk/latest_news/00189/ 05 August 2010 As announced at the June Budget, the Government published further taxation discussion/consultation documents this week. These are part of a new and innovative approach to tax policy making, designed to create a more predictable, stable and simple tax system in the UK: PAYE Reform This consultati... Latest news http://taxreform.cbi.org.uk/latest_news/00190/ 10 August 2010 The CBI this week submitted its response to the Takeover Panel consultation on the regulation of takeover bids. We emphasised that company ownership is important for UK competitiveness but that we should reject any protectionist measures. We also said that changes to takeover rules are only par... Latest news http://taxreform.cbi.org.uk/latest_news/00191/ 04 October 2010 The CBI Taxation Committee has responded to the Treasury's consultation on "tax policy making - a new approach". The submission follows up a detailed meeting earlier in the summer. We have reiterated that the most important ingredient of good tax policymaking is that the policy is clear from th... Latest news http://taxreform.cbi.org.uk/latest_news/00192/ 21 October 2010 The CBI has opposed the introduction of a GAAR as part of the Government's proposed more strategic approach to tax avoidance. The business view is that: . Introduction of a GAAR would involve a disproportionate compliance burden, undermining the objectives of enhanced UK competitiveness and sim... Latest news http://taxreform.cbi.org.uk/latest_news/00193/ 22 October 2010 The CBI Taxation Committee has welcomed the government's review of the PAYE system. This review seeks to improve the operation of PAYE via the collection of real time information to simplify taxation and reduce burdens on business. However we feel that these proposals as they stand will no... Latest news http://taxreform.cbi.org.uk/latest_news/00194/ 28 October 2010 Members set out their concerns and recommendations for government on defined benefit pensions and the pensions reform programme at several meetings this week. We hosted separate events with pensions minister Steve Webb and independent reviewer of public sector pensions Lord Hutton, at which the... Latest news http://taxreform.cbi.org.uk/latest_news/00196/ 04 November 2010 Responding to the spending review, Richard Lambert stated that the Chancellor had got the strategic direction right and had stayed the course outlined in the June Budget. Within the context of Budget consolidation, economic growth remains a top priority. The CBI welcomed the extra 2bn a year ... Latest news http://taxreform.cbi.org.uk/latest_news/00197/ 12 November 2010 The government's overall aim for the CFC reform planned for 2012 is to achieve stability and enhance competitiveness while protecting the UK tax base, as part of the government's roadmap for Corporation Tax reform. Interim measures intended to benefit business rather than the Exchequer are to b... Latest news http://taxreform.cbi.org.uk/latest_news/00198/ 18 November 2010 Following the submission of our response to the HM Treasury consultation on pensions tax relief last month, CBI staff have engaged with officials to ensure the new system is fair for all savers and as low cost as possible for firms. In particular, we are focused on ensuring the new approach doe... Latest news http://taxreform.cbi.org.uk/latest_news/00162/ 18 September 2009 CBI Chief Economic Adviser, Ian McCafferty, and Director of Public Services, Susan Anderson, met the Financial Secretary to the Treasury, Stephen Timms to discuss the CBI's emerging proposals for the forthcoming Pre-Budget Report. The CBI emphasised the need for a clear and credible plan for the pu... Latest news http://taxreform.cbi.org.uk/latest_news/00163/ 30 September 2009 The EU Commission has publisehdproposals to allow Member States to apply the reverse change to supplies of certain goods and services susceptible to fraud. This can be accessed at: http://ec.europa.eu/taxation_customs/taxation/index_en.htm If you have any views on this, please contact:... Latest news http://taxreform.cbi.org.uk/latest_news/00164/ 12 November 2009 The Chancellor has announced that he will deliver his Pre-Budget Report (PBR) to Parliament on Wednesday 9 December 2009 at 12.30pm. You can read what the CBI's recommendations are at: CBI PBR Submission Oct 2009.pdf (143KB) CBI-Doing More With Less.pdf (252KB) Latest news http://taxreform.cbi.org.uk/latest_news/00165/ 12 November 2009 HMRC has published the Taxpayer Charter. This document explains what taxpayers can expect from HMRC and what they expect from taxpayers. It can be accessed at: http://www.hmrc.gov.uk/charter/index.htm Latest news http://taxreform.cbi.org.uk/latest_news/00166/ 13 November 2009 BIAC's Executive Board haselected two of CBI's Taxation Committee members as Chairman and Chairman-elect of their own Taxation Committee. Mr Chris Lenon of Rio Tinto will start aschairman in the Spring of 2010 for two years when he will be succeeded byMr Will Morris (GE) for the next two years. ... Latest news http://taxreform.cbi.org.uk/latest_news/00167/ 27 January 2010 The Government has published a discussion document on proposals for reforming the UK tax treatment of controlled foreign companies (CFCs). The proposals set out in the discussion document are intended to enhance the competitiveness of the UK, while providing adequate protection of the U... Latest news http://taxreform.cbi.org.uk/latest_news/00168/ 02 February 2010 Following a CBI protestto HMRC that some employees were receiving two PAYE coding notices issued by the same office for the same employment on the same date and for the same year, HMRChave advised thatif employees are havingproblems or concerns abouttheirlatestcoding notice,they should check it us... Latest news http://taxreform.cbi.org.uk/latest_news/00170/ 04 March 2010 The Lords Commissioners of Her Majestys Treasury has appointed 1 April 2010 as the date on which s.94 of the Finance Act 2009 will come into force. This section authorises HM Revenue Customs to publish the details of taxpayers where it is established that they have committed certain serious tax... Latest news http://taxreform.cbi.org.uk/latest_news/00171/ 04 March 2010 A report by the One Hundred Group has found that Britain's largest companiesgave overhalf their gross profits to the government in taxes in 2009. The CBI said the findings showed that the government had to rethink its policies. Richard Woolhouse, head of tax and fiscal policy, said: "The gover... Latest news http://taxreform.cbi.org.uk/latest_news/00172/ 09 March 2010 Employer Annual Returns must be filed ONLINE by 19 May at the latest. Paper filing is no longer an option for small employers with fewer than 50 employees. If you file your return onpaper, even if before 19 May = you could receive a penalty. For more information, please see HMRC's press ... Latest news http://taxreform.cbi.org.uk/latest_news/00173/ 09 March 2010 In a letter to Chancellor Alistair Darling, Richard Lambert, the CBIs Director-General, spells out two critical objectives for the Budget: boosting the UKs fiscal credibility and fostering economic growth. Government should set out clear and timely plan for restoring fiscal credibility and nur... Latest news http://taxreform.cbi.org.uk/latest_news/00174/ 10 March 2010 The Chancellor will deliver his Budget on Wednesday 24 March 2010 at 12.30pm Latest news http://taxreform.cbi.org.uk/latest_news/00175/ 22 April 2010 HMRC have introduced a new/faster way for employers and agents to inform them when they have no Employer Annual Returns (P35 and P14s). To find ourt more please follow this link: http://www.hmrc.gov.uk/employers/no-return-to-make.htm Latest news http://taxreform.cbi.org.uk/latest_news/00200/ 10 December 2010 Our Tax Fiscal Policy Group has been involved for a number of years in the preparation of an Institute for Fiscal Studies (IFS) Review by articulating in specialist workshops and discussions. This review sets out to identify the characteristics of a tax system fit for the 21st century and argues... Latest news http://taxreform.cbi.org.uk/latest_news/00201/ 14 December 2010 Our Taxation Committee will be writing to the US authorities supporting the submissions made by the BBA and ABI. They have expressed concern over data privacy and the extent of the legal, contractual and practical issues FACTA applies to existing pension and insurance policies. This Act stems ... Latest news http://taxreform.cbi.org.uk/latest_news/00202/ 21 December 2010 In October the Treasury announced its final decision on how to approach restricting tax relief for high earners. Overall the change is not a welcome one but concerted CBI lobbying has delivered the annual allowance of 50,000 of fully tax relieved pension savings per year that companies set ou... Latest news http://taxreform.cbi.org.uk/latest_news/00203/ 15 February 2011 We are preparing our response to the consultation document on Corporate Tax reform, covering the government's proposals on CFCs, Foreign Branches, a new Patent Box and improvements to RD tax credits. Initial reactions in the draft response are: CFCs - The aim of a more competitive, territoria... Latest news http://taxreform.cbi.org.uk/latest_news/00204/ 15 February 2011 A meeting of interested CBI members with the HMRC team responsible for the drafting of this latest consultation took place last week. Members are not against this proposal in principle, as it could simplify the PAYE processes and save costs both for employers and HMRC, but expressed their concerns... Latest news http://taxreform.cbi.org.uk/latest_news/00205/ 21 February 2011 As part of their Review of Powers, HMRC published in December a consultation document on Disguised Remuneration - Employment Income through 3rd Parties. This proposal would introduce legislation to tackle arrangements involving trusts or other vehicles used to reward employees which seek to avoid o... Latest news http://taxreform.cbi.org.uk/latest_news/00206/ 23 February 2011 HMRC have issued a note confirming the position folowing the disruption to international travel caused by political unrest in Egypt as exceptional circumstances for the purposes of determining UK residence. HMRC have been liaising with the Foreign and Commonwealth Office (FCO) on this issue. HMRC... Latest news http://taxreform.cbi.org.uk/latest_news/00207/ 24 February 2011 Road Map on Corporation Tax Reform The CBI's response to the Government's consultation on corporate tax reform has welcomed the consultation process overall, the direction of travel and the commitment to making the UK tax regime the most competitive in the G20. At the same time, we stress that... Latest news http://taxreform.cbi.org.uk/latest_news/00178/ 08 June 2010 CBI members and staff this week met Treasury officials working on reforms to the system of tax relief on pensions. The meeting was an opportunity for members to share their concerns about the previous government's approach, and to encourage officials to explore simpler alternatives that are more at... Latest news http://taxreform.cbi.org.uk/latest_news/00209/ 24 March 2011 The CBI has cautiously welcomed HMRC's proposals on real time information collection from employers. This is the second stage of their attempts to improve the operation of PAYE. These proposals set out plans to require employers to submit PAYE information as part of the employee payment process. Al... Latest news http://taxreform.cbi.org.uk/latest_news/00210/ 07 March 2011 The CBI today (Monday) called on the Chancellor to focus his March Budget on areas that do most to boost economic growth and job creation. In a letter to George Osborne, the CBI outlines its priorities for the Government's Growth Review, alongside broader measures to enhance competitiveness. It i... Latest news http://taxreform.cbi.org.uk/events/00176/ 02 June 2010 Richard Woolhouse, CBI's head of tax and fiscal policy addresses a breakfast seminar at the Ritz, Central London on Wednesday 23rd June 2010. Hearour first view and reaction to the budget announced the day beforeand what the election results mean for your business. How will they affect your cust... Events http://taxreform.cbi.org.uk/reports/00199/ 19 November 2010 The competitiveness of British business is increasingly compromised by the UK corporate tax system. Only a few years ago the UK was perceived to be one of the most competitive places in the world to do business, underpinned by one of the most competitive corporate tax systems. Today this advantage ... Reports http://taxreform.cbi.org.uk/reports/00146/ 17 April 2009 As a follow up to the CBI's Tax Task Force Report launched in 2008, the CBI has prepared a paper with recommendationsas to how to promote SME growth during the current recession. Reports http://taxreform.cbi.org.uk/reports/00141/ 17 April 2009 The CBI has published its technical tax proposals for this year's budget. These proposals were discussed in draftwith HMRC/HMT officialsand have now been finalised. Reports http://taxreform.cbi.org.uk/reports/00142/ 17 April 2009 The CBI has published its economic priorities for this year's budget. For further information please contact doug.godden@cbi.org.uk Reports http://taxreform.cbi.org.uk/reports/00111/ 01 September 2008 The competitiveness of British business is increasingly compromised by the UK corporate tax system. Only a few years ago the UK was perceived to be one of the most competitive places in the world to do business, underpinned by one of the most competitive corporate tax systems. Today this advantage... Reports http://taxreform.cbi.org.uk/official_responses/00121/ 01 February 2008 Income shifting: CBI response Official responses http://taxreform.cbi.org.uk/official_responses/00122/ 01 February 2008 Financial products avoidance: CBI response Official responses http://taxreform.cbi.org.uk/official_responses/00123/ 01 February 2008 Consultation on residence and domicile: CBI response Official responses http://taxreform.cbi.org.uk/official_responses/00124/ 29 February 2008 HM Treasury's consultations on: 1) 'Paying a fairer share: consultation on residence and domicle ('the condoc') - Dec 2007; 2) HMRC's draft legislation and technical notes ('the draft legislation') and FAQs ('the FAQs') - Jan 2008; 3) HMRC's clarificatory letter of 12 Feb 2008 ('the February letter... Official responses http://taxreform.cbi.org.uk/official_responses/00126/ 01 June 2008 A fairer tax for Scotland Official responses http://taxreform.cbi.org.uk/official_responses/00127/ 19 June 2008 CBI comments on HMRC Powers Consultation: Meeting the obligations to file returns and pay tax on time Official responses http://taxreform.cbi.org.uk/official_responses/00128/ 19 June 2008 CBI comments on HMRC posers consultation document on: Interest - Working towards a harmonised regime Official responses http://taxreform.cbi.org.uk/official_responses/00129/ 22 July 2008 CBI Letter to Treasury on taxation of foreign profits Official responses http://taxreform.cbi.org.uk/official_responses/00130/ 01 September 2008 CBI comments on HMRC's consultation document: HM Revenue Customs and the taxpayer - a new charter for HMRC and its customers Official responses http://taxreform.cbi.org.uk/official_responses/00143/ 17 April 2009 The CBI has commented on an UK proposal for EU Memebr State Tax Administrations to implement enhanced automatic VAT Registration Number (VNR) checking facilities. Official responses http://taxreform.cbi.org.uk/official_responses/00144/ 17 April 2009 The CBI has repleidtoan HMRC consultation on UK treaty clearance process - relief from withholding tax on corporate interest. This applies to arangements by which non-resident lenders claim relief from withholding tax on interest paid by UK companies. Official responses http://taxreform.cbi.org.uk/official_responses/00157/ 15 July 2009 The CBI has responded to HMRC's draft QsAs on the treatment of production expenditure for the purposes ofRD Tax Relief. We do not consider that these correctly reflect the DTI guidelines and they need to be revised to remove the scope forconfusion. Official responses http://taxreform.cbi.org.uk/official_responses/00161/ 31 July 2009 The CBI has responded to HMRC's draft regulations and directions covering Online Filing of Corporation Tax Returns and E-payments of Tax. Please download the PDF to see the full response. Official responses http://taxreform.cbi.org.uk/official_responses/00177/ 07 June 2010 The CBI has welcomed the review of the guidance on this capitalisation as an opportunity for HMRC to set out a more arm's length approach to transfer pricing transactions but has a number of questions which we will shortly be discussing with HMRC. See below a link to the CBI comments. Official responses http://taxreform.cbi.org.uk/press_release/00208/ 01 March 2011 Controlled Foreign Company reform risks being constrained by cumbersome anti-avoidance measures The CBI today welcomed the Government's commitment to making the UK the most competitive corporate tax system in the G20 by a phased reduction in the corporate tax (CT) rate to 24%. The leading UK b... Press releases http://taxreform.cbi.org.uk/press_release/00152/ 22 April 2009 Reacting to the chancellor's budget speech, Richard Lambert, CBI director-general, said:"The key question for this budget was whether it set out a credible and rigorous path for restoring the public finances to health. The CBI's preliminary judgement must be that it does not. "The chancellors ec... Press releases http://taxreform.cbi.org.uk/press_release/00154/ 22 April 2009 Reacting to the Chancellor's budget speech, Richard Lambert, CBI director-general, said: "The key question for this budget was whether it set out a credible and rigorous path for restoring the public finances to health. The CBI's preliminary judgement must be that it does not. "The chancellor'... Press releases http://taxreform.cbi.org.uk/press_release/00110/ 14 May 2007 CBI director-general Richard Lambert today launched a newinitiative to examine whether the UK's corporate tax regime is still fit for purpose and to make recommendations for future policy. The group will be chaired by Charles Alexander, president of GE Capital Europe and national executive of ... Press releases http://taxreform.cbi.org.uk/press_release/00118/ 12 March 2008 Reacting to the Chancellor's 2008 Budget speech, Richard Lambert, director-general of the CBI, said: "The Chancellor didn't set the Thames alight, but then he didn't have anything to set it alight with. "On the surface there are no nasty surprises, but his growth assumptions are optimistic and... Press releases http://taxreform.cbi.org.uk/press_release/00211/ 17 March 2011 The CBI welcomes the efforts of the European Commission in the Common Consolidated Corporate Tax Base (CCCTB) proposal, to deal with a number of significant cross-border issues within the European Union that burden business and hold back the Lisbon Agenda on making Europe more competitive. Richa... Press releases