Archive for the ‘News’ Category

November Tax News in Summary

Want a convenient roundup of the most important tax news in Novemeber 2014? Then read on… Patent box relief may end – The UK has agreed to put forward a proposal to close its patent box tax break, which allows income from the commercial exploitation of intellectual property (IP) to be taxed at 10%, in a…

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National Audit Office Criticises HMRC Over Tax Relief Schemes

national-audit-office-criticises-HMRC

According to Whitehall’s official spending watchdog, billions of pounds’ worth of tax might be lost forever because of government failings. The National Audit Office released a report on Friday that labelled HM Revenue & Customs’ management of nearly 400 tax relief schemes as inadequate. Margaret Hodge, who is currently chair of the public accounts committee,…

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