hmrc claws back 21bn pounds from tax evaders
HMRC clawed back a record £21bn from its investigations into tax avoiders and evaders in the year to March, according to accountant UHY Hacker Young.
Tax & Regulation
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hsbc jersey accused of holding money
HSBC bank is at the centre of allegations that it allowed drug dealers and other notorious UK criminals to set up offshore accounts via its Jersey-based business.
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defending its interests a profile of the isle
A diversified economy is protecting the Isle of Man as the global financial crisis continues. But as it looks east for much of its business, the island will need to emulate the service and expertise offered in the Asia Pacific region to maintain its momentum, writes Mark Battersby.
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us treasury in fatca talks with 50 jurisdictions
The US Treasury has revealed that more than 50 jurisdictions are in various negotiation stages on formal agreements on how to comply with FATCA.
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jersey fsc releases rdr consultation results
The Jersey Financial Services Commission has published the results of its consultation on a review of the island’s financial advisory industry, ahead of the 2014 start date for implementing the recommended changes.
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tax amnesty in spain closes this month
A tax amnesty in Spain offering people with undeclared taxable assets the opportunity to pay a flat 10% levy, without facing criminal or administrative penalties, is due to close at the end of this month.
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hmrc publishes swiss uk tax agreement
HM Revenue & Customs have posted a factsheet on the new Swiss/UK tax cooperation agreement, in an effort to ensure UK taxpayers and their advisers are aware of what to expect when it comes into effect on the first of January.
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uk sixth highest tax burden in world
The UK has the ninth highest tax burden on those earning $200,000 per year and the sixth highest for those earning $1.5m, according to a new report based on analysis of 26 countries.
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guernsey unveils rdr consultation
Guernsey is asking islanders and island business leaders whether it should adopt a Retail Distribution Review similar to that about to take effect in the UK.
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angry spouses grass to hmrc
HM Revenue & Customs is increasingly turning to the use of informers, including former spouses, to increase tax revenue, according to UK-based law firm RPC.
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european commission pressures UK
The European Commission is putting pressure on the UK to review “discriminatory” rules which mean that transfers between domiciled and non-domiciled spouses are subject to inheritance tax.
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hmrc more than doubles revenue
HM Revenue & Custom’s increasingly aggressive approach to tax avoidance has led to a 64% rise in the revenue it generated from investigations into self assessment tax returns in the 2011-2012 tax year.