MPs grill HMRC over corporation tax

 

HMRC chief executive Lin Homer denied large businesses are given favours in dealing with tax fraud and evasion at a Public Accounts Committee (PAC) session.

PAC chair Margaret Hodge grilled Homer on a range of issues including the tax gap, favouring large corporations over smaller businesses and RTI. 

The recent debates on the amounts of tax large corporations are paying seemed to feature high on the agenda. 

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Comments

Dynamic, Competent, Proficient....

justsotax | | Permalink

words that you couldn't accuse Ms Homer of being asociated with?....you decide?

Mikeparr's picture

Corporation tax

Mikeparr | | Permalink

For the larger corporations why not have corporation tax on turnover rather than profit .  

A suitable % rate could be determined (say 0.5% or something similar)

That would be reported turnover exclusive of VAT. 

That might avoid shifting profit abroad . It might even work for small/ medium sized companies too.

I'm not sure how you would cope with loss relief though

Just a thought

 

 

Retrospection

ThornyIssues | | Permalink

"HMRC chief executive Lin Homer denied large businesses are given favours in dealing with tax fraud and evasion at a Public Accounts Committee (PAC) session."

While that may or not be true on her watch (time will tell) we can all apply retrospection here and know that was not true of her predecessor!