MPs cover their backs
Salary arrangements for MPs should not be subject to anti avoidance rules, but other innocent people are unable to exclude themselves from poorly drafted legislation
Salary arrangements for MPs should not be subject to anti avoidance rules, but other innocent people are unable to exclude themselves from poorly drafted legislation
THE DISGUISED REMUNERATION legislation has caused a headache for many. Advisers, who cannot get their head round the 59 pages of explanation, businesses, who do not know whether their completely legitimate third party payment agreements will get caught in this legislation, and your very own correspondent, who has been left scratching his head over the various provisions.
Part of this head-scratching was induced by the one group of people who will not have any problems with the legislation – namely, MPs, who have specific provisions to ensure that their (I must add, perfectly legitimate) third party payment agreements are excluded from the legislation.
It would have been unfair if the arrangement for MPs salaries – in which they are paid by an independent body as a result of the expenses scandal – fell under DR rules.
But this simply highlights the problems with the legislation. Most people, who do not get to write legislation, cannot slip in a provision to ensure their legitimate arrangements are specifically excluded.
Why can’t MPs rely on the strength of the legislation in itself?
More about:
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleWith proposals for an Amazon tax on the table, how can the UK tax system catch up with the implications of the Fourth Industrial Revolution? Read More...
View articleGlobal corporations are under increasing scrutiny over how much corporation tax they pay. So who are the latest big names hitting the headlines over t...
View articleThe EU is deeply divided over how to increase the tax take from tech giants such as Google, Apple and Amazon, who have recently come under fire for be...
View articleTo avoid falling foul of HMRC's tax crackdown, small businesses now have to be much more vigilant when it comes to tax matters, and it's an ideal oppo...
View articleLaw firm warns that HMRC focus on entrepreneur’s relief could prompt increase in avoidance scheme usage Read More...
View articleDiverted profits tax revenue collected by HMRC in 2016-17 totalled £281m, leaping from £31m collected in the previous year, according to data released...
View articleMarkets can be expected to respond positively to US policy changes on the horizon, according to investment director at a boutique investment business ...
View articleBillions of pounds of infrastructure investment planned; but tax tinkering still looms following Philip Hammond's first Autumn Statement Read More...
View article