Thursday 26 November 2015

UK: The Autumn Statement - some company aspects

The Government's mid-year budget report - known as the Autumn Statement - was delivered yesterday: see here. This contained various announcements relating to corporate taxation, and confirmed the Government's intention to introduce a new corporate criminal offence - the failure to prevent tax evasion - which will be committed where the company fails to prevents its agents from criminally facilitating tax evasion. The Government has also confirmed, following a consultation earlier this year, that it will require large businesses to publish their tax strategies as they relate to, or affect, UK taxation. What is not clear is whether the Government will go ahead with the proposal that there should be a named individual, at board level, with responsibility for this strategy.

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