.png)
.png)
All bound up
KEY POINTS
- A UK tax ruling system could be based on best practice from other countries.
- Certainty of tax outcomes benefits HMRC and taxpayers.
- The administration could be funded by government or a levy on larger businesses.
- A lack of rulings from HMRC would discourage aggressive tax avoidance.
- New legislation would benefit from the security provided by tax rulings.
- A pilot ruling system could be introduced for the new corporate interest restriction rules.
I propose that the UK adopts a system of legally binding tax rulings to enable taxpayers to agree specific and mutually binding tax outcomes with HMRC. Starting with a proposed ‘best practice’ analysis of other tax jurisdictions that do have formal rulings systems such as Australia the UK’s arrangements could comprise the following elements.
- ...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
