Opposition member of Parliament Catherine McKinnell is the Shadow Exchequer Secretary to the Treasury. If Labour win the next election, McKinnell could be the UK’s next minister for tax and her ideas on transparency and tackling avoidance in the UK and abroad may take global tax policy in a bold new direction. Salman Shaheen talks to McKinnell about where she believes the government is going wrong and what she would do differently.
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Where a TP study of comparables produces an arm’s-length range, and the taxpayer’s filed position is outside that range, HMRC will adjust to the median by default