A senior partner at tax specialist Baker Tilly has come to the defence of offshore jurisdictions, arguing they are often at least as well regulated as the UK and that views of them as “shady” are outdated.
Barcelona footballer Lionel Messi is being investigated by the Spanish authorities for tax evasion, according to widespread reports.
The European Commission has today proposed extending the automatic exchange of information between member states, claiming that the new requirements will go further than FATCA in tackling tax evasion.
UK accountants are expressing concern over the implications of a recent High Court ruling which appears to suggest that practitioners have an obligation to advise their clients to avoid paying tax.
HM Revenue & Customs has won a Tribunal to close down a tax avoidance scheme which had sought to cheat the public purse of £2.4m through the use of Employee Benefit Trusts.
A tax specialist has uncovered a ‘big hole’ in HMRC’s tax gap figures, following the publication of data by The Institute of Economic Affairs (IEA) relating to the amount of money the Exchequer is losing to the UK’s shadow economy.
A Geneva-based group representing Americans living abroad has taken advantage of a US congressional investigation into the Internal Revenue Service to explain how the IRS has taken to targeting Americans living overseas.
David Cameron has asked the leaders of the UK’s overseas territories to come to London on the eve of the G8 Summit later this month, as he seeks to strengthen his position as an enemy of tax evasion.
New reporting requirements set down in draft QROPS regulations HM Revenue & Customs issued last month “will only apply to pension schemes that ceased to be QROPS on or after the date that the regulations come into force”, HMRC has told International Adviser.
HM Revenue & Customs has sought to reduce the complexity of the way inheritance tax trust charges are calculated, in a consultation document released late yesterday in London.
The new reporting requirements set down in the draft QROPS regulations issued last month by HM Revenue & Customs will not apply to schemes that lost their QROPS status before the regulations become law, at least as currently proposed, pension industry sources report.
Now that the UK has its first-ever statutory definition of UK residency for tax purposes, the tax authorities have come up with a tool to help people determine their status.
