MPs grill HMRC over corporation tax

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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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07th Nov 2012 11:40

Dynamic, Competent, Proficient....

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

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08th Nov 2012 14:21

Corporation tax

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

 

 

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19th Nov 2012 12:48

Retrospection

"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!

 

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