No secrecy for beneficial shareholders of UK companies The British prime minister has announced that a publicly available central registry will be created listing all the beneficial owners of UK companies as part of the ongoing crackdown on tax evasion
Pension schemes, the Tobin tax, HMRC’s new VAT changes, and naming and shaming the banks all feature in this month’s news.
Saturday morning. Between sleeping and waking, you hear the rattle of the letterbox coming to you from downstairs, indicating that the postman has been. Who can ever resist that invitation? Donning your dressing gown, you trudge blearily down the stairs and find a brown envelope, marked “HMRC” on your doormat. Your heart sinks, but having feverishly torn open the envelope to find out the worst at once, your mood suddenly experiences a change. It’s a big fat cheque from the taxman, with your name on it…
Saab directors arrested, Apple defends its tax policies and evidence lower corporate tax boosts investment in this month’s tax news.
We’ve mentioned, elsewhere, a possible political driver for allowing non UK residents to get out of paying tax on property rents. This is, briefly, the wish to encourage foreigners to invest in the UK. Another such politically based incentive, no doubt, is the fact that non UK residents are not generally chargeable to capital gains tax here. The UK differs from many other jurisdictions in this respect…