Professionals do not expect to see any major changes to taxation when the UK budget is announced next Wednesday. At the same time, the proximity of a general election, due by the first week of June, means predictions are difficult. Taxpayers and their advisers have been left wishing for changes rather than forecasting them
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap