Tax

UK Finance helps members collectively respond to and address domestic, international and supra-national tax policy and implementation issues.

We articulate the financial services industry perspective, facilitate constructive dialogue, and press for proportionate approaches.

Through our Tax Committee and the sub-working groups (VAT, Operational Taxes, Automatic Exchange of Information, and International Custody Tax), we respond to relevant consultations, discussion papers and calls for evidence, as well as engage with policymakers, advisors and industry peers. We commission and publish analysis, such as the Total Tax Contribution of the UK banking sector and International Tax Comparison report. We also actively contribute to and support the activities of the European Banking Federation Fiscal Committee and International Banking Federation Tax Working Group. 

Topical issues we are currently dealing with include:

  • UK Competitiveness – e.g. measures required to foster an internationally competitive tax environment for banks in the UK
  • Reform of the International Tax System – e.g. OECD Pillar 1 and Pillar 2
  • VAT – e.g. The Review of the Future of VAT on Financial Services
  • Tax Transparency – e.g. the OECD’s consultation on a new tax transparency framework for crypto-assets and amendments to the Common Reporting Standard 

Sarah Wulff-Cochrane leads on Tax Policy for UK Finance and can be contacted at sarah.wulff-cochrane@ukfinance.org.uk.

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