In line with the agreement on a two Pillar solution to reform the international tax system, the Government published a consultation on how the Pillar 2 rules will be implemented in the UK.
CTG’s response can be read via the link below
The response called for further direct consultation between HM Treasury and the charity sector on the impact of its implementation for not-for-profit organisations in the UK.
This will be very important to avoid unintended consequences as we have identified a potential issue for charities with UK trading subsidiaries which donate their taxable profits to the charity under the company Gift Aid Scheme.
CTG previously responded to the OECD consultation on Pillar 2 which can be read here.