This is what HMRC have to say today on two key issues if concern to me:
I'm delighted by the announcement on country-by-country reporting.
I have no clue as yet how the diverted profits tax might work as I can find no detail as yet.
Could it be they're going to calculate it on the basis of country-by-country reporting and from that work out how much is diverted - which is precisely what I designed country-by-country reporting to do? Now that would be a breakthrough if it were to happen that could lead to a total reform of UK taxation as a whole.
That would be a breakthrough - but as yet it's not clear.