The Chartered Institute of Taxation (CIOT) has welcomed the Government’s commitment to ‘value creation’ remaining as the basis to decide where and how much to tax multinational companies. But the CIOT cautions that the Government’s push for reforms to factor in the value created by the participation of users in certain digital multinational businesses – for example by posts on social media platforms – when determining which countries those businesses' profits should be taxed in, is likely to be difficult and controversial.
The LITRG is urging parents and carers to check their position before applying for the new Tax-Free Childcare (TFC) as they may find other benefits they currently receive are stopped or that other childcare schemes can offer more financial support than TFC.
The LITRG has highlighted the huge amount of work to be done in order to implement the recommendations and deliver the plan set out by the Government in its response to the Matthew Taylor review ‘Good Work’. This will require Government departments to work together and LITRG has called for a person or body to be appointed to co-ordinate and oversee the implementation of the plan.