An independent financial adviser, a former police officer, a city trader and a former Welsh-international rugby player have all been given jail sentences for their roles in a £2.4m (€2.7m, $3.2m) film tax scam after an investigation by HM Revenue & Customs (HMRC).
The UK tax office’s decision to appeal a £15m tax ruling in favour of financial services firm Hargreaves Lansdown has left the investment industry in limbo over discounts provided to investors in funds.
Plans to give the UK tax man powers to demand advance payment if the revenue has “reason to believe” an offshore scheme is avoiding tax should be scrapped, according to a top tax lawyer.
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
HM Revenue & Customs knew its pension tax calculator was giving incorrect data to users, but only pulled it once Royal London’s director of policy publicly slammed the tool.
The UK tax year has only just started but it is never too early to get into good habits, according to accountants Blick Rothenberg – especially if you are leaving the UK.
Ten thousand wealthy individuals could be hit by offshore tax avoidance legislation proposed by HM Revenue & Customs, generating up to £50m a year in tax receipts.
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
Despite being three years since HM Revenue & Customs introduced the pension freedoms, two out of three people over the age of 55 say they are still confused by the regulations.
Prison sentences and “unlimited fines” are two draconian penalties HM Revenue & Customs (HMRC) will have at its disposal from next week for UK taxpayers who evaded tax through offshore means in tax year 2017/18.
HM Revenue and Customs is to face questioning over its treatment of individuals during tax enquiries.
