HMRC powers

HMRC announces consultation on Principles—based approach to financial products avoidance

This consultation document explores the use of principles based legislation for countering financial products avoidance with a view to the possible introduction of legislation at Finance Bill 2009.

HMRC publish Simplification Review discussion document

This outlines two potential approaches to simplifying Corporation tax calculations for smaller companies – the ideas will only be developed further if there is convincing support from business for either approach.