Higher offshore tax evasion penalties explained
The UK taxman has updated its factsheet on how it calculates new penalties for offshore tax evasion involving income tax, capital gains tax and inheritance tax.
HMRC
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Tax investigators could get greater search warrant powers
The UK’s Serious Fraud Office and HM Revenue & Customs could be given the right to apply for a search warrant independently of the police under modernisation plans.
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IFA and ex-rugby star sentenced for £2.4m film tax scam
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).
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Investment industry in limbo as HMRC appeals Hargreaves tax win
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.
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Advance payments a ‘worrying erosion’ of taxpayer rights
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.
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UK taxman outlines tax avoidance enabler hitlist
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.
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UK pension freedoms withdrawals hit £17bn
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
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HMRC pulls pension calculator after Royal London pressure
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.
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New tax year tips for expats leaving the UK
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.
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HMRC’s £50m plan targets tax dodging wealthy
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.
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AJ Bell warns of pensions overtax pitfall
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
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Two in three still confused by pension freedom rules
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.