Apple hit with €13bn tax bill

News of the supposedly good deal struck between Apple Corporation and Ireland is perhaps not altogether surprising. The allegation that tax underpaid could amount to 13bn Euros apparently “sends a clear message that EU member states cannot give unfair tax benefits to selected companies” according to EU Competition Commissioner Margrethe Vesteger.

Ms Vesteger was a former member of the Danish Parliament, the same country which offered Goldman Sachs, Citigroup, Merrill Lynch and others, arrangements which deprived Denmark of substantial tax revenues.

With the banks’ help, stock owners avoid paying Danish authorities the dividend taxes they would otherwise owe on their holdings of companies like Maersk, Novo Nordisk, Danske Bank, Tryg and Carlsberg, among others.

Clearly it would seem that the principles of “Do as I say, not as I do” are alive and well and living in the EU.

Newsletter 105

Headlines from our latest newsletter.  Please click on any of the links below for more information :

RESIDENTIAL PROPERTY INCOME AND INTEREST RELIEF

The government has issued guidance and examples on the restriction of income tax relief for interest costs incurred by landlords of residential properties - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Relief

TPR LATEST PENSIONS AUTO ENROLMENT AWARENESS

According to the latest research by the TPR, based on surveys carried out between February and April 2016, the understanding amongst small employers of their duties under pensions auto enrolment saw a significant rise from 68% to 81%
- See more at: http://www.walkerthompson.co.uk/Newsletter-105#Pensions

HMRC LATEST ‘TAX CHEAT’ TARGETS

HMRC have launched a new taskforce to tackle wealthy tax cheats who are living beyond their means in Northern Ireland and expect the campaign to recover approximately £18 million - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Targets

LATEST ONS LABOUR MARKET STATISTICS

The ONS has announced that in the three months from March to May 2016, the number of people in work increased - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Statistics

UPDATED STUDENT LOAN DEDUCTION GUIDANCE

HMRC have issued updated guidance to employers on how to deal with student loan deductions via the PAYE system - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Student

WORKING IN HOT TEMPERATURES

ACAS have some guidance on ‘hot weather’ working - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Hot

CHARITY NEWS

Annual returns

The Charity Commission, which is the relevant body for charities registered in England and Wales, has announced that its latest annual return is now available and can be found on GOV.UK - See more at: http://www.walkerthompson.co.uk/Newsletter-105#News

LATEST ONS LABOUR MARKET STATISTICS

The ONS has announced that in the three months from March to May 2016, the number of people in work increased - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Statistics

RESIDENTIAL PROPERTY INCOME AND INTEREST RELIEF

The government has issued guidance and examples on the restriction of income tax relief for interest costs incurred by landlords of residential properties - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Relief