News
'Systematic abuse' of tax system could lead to changes
Vince Cable says the Autumn Statement could contain new measures after he said multi-national companies are avoiding tax.
Business Secretary Vince Cable says he expects the Autumn Statement to feature action against tax avoidance after criticising multinational firms for "systematic abuse" of the system.
The minister said that British businesses are angry about the way other firms are not paying their fair share, following criticism of Amazon, Google and Starbucks - who were questioned by MPs earlier this week about the amount of Corporation Tax they pay in Britain.
While Dr Cable's comments are targeted at larger enterprises, Chancellor of the Exchequer George Osborne's Autumn Statement - to be made on December 5th - could also look at small businesses as HM Revenue & Customs (HMRC) continues its crackdown on tax avoidance.
Dr Cable said yesterday (November 15th): "Some of them seem to be avoiding tax systematically and this is deeply angering tens of thousands of British companies who do pay their tax properly, so, yes we've got to get to grips with it."
It comes after HMRC launched a new tax avoidance and evasion campaign earlier this week.
Posted by Thomas Fletcher
Date published 16 Nov 2012 | Last updated 15 Nov 2013
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.