One business truism rarely discussed, not just among tax professionals but the wider business community, is just how widespread the use of spreadsheets remains in the modern business world. Applications such as common-or-garden Excel are the core medium for corporate data across small businesses right up to global multinationals and financial services giants, used by all of these as vehicles for business critical data, including tax and accounting information.
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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