In its ongoing fight against tax evasion, HM Revenue & Customs has revealed its top ten tax fraud and organised crime cases of 2017. The list includes people with offshore accounts, a would-be spy, millionaires, accountants and data thieves. All cases came with large prison sentences.
A football entrepreneur and Dubai resident, who rejected HM Revenue & Customs demands for information, has won a court case against the UK taxman.
Offshore advisers have given a cautious thumbs-up to additional requirements to tell HM Revenue & Customs when they set up complex offshore schemes but have expressed concern that legitimate schemes could be targeted as well as abusive ones.
Concern has been raised about the lack of effective safeguards in place for taxpayers, as HM Revenue and Customs continues to develop broader powers to seek payments.
HM Revenue & Customs has removed all 19 Hong Kong recognised overseas pension schemes (Rops) from its online notification list.
A taxpayer who relied on incorrect information published in an HM Revenue & Customs manual to claim tax relief has had his request for a judicial review dismissed, despite the judge agreeing the information provided was wrong.
The UK’s HM Revenue & Customs has introduced a pay first, dispute later deterrent to stop aggressive tax planning which has pushed company profits into offshore jurisdictions.
The government has revealed measures to ban pension cold calling as figures reveal that almost 11 million people, or one in six Brits, are cold-called about their pension each year.
Offshore tax evaders face “much higher” penalties for non-compliance under new Right To Correct (RTC) rules revealed by HM Revenue & Customs.
The deadline to register new trusts on HM Revenue & Customs’ Trust Registration Service (TRS) has been extended by three months to 5 January 2018.
Six members of a crime group have been jailed for a total of 45 years for devising a fake eco-investment scheme as a tax break for wealthy investors, often using the law firm at the heart of the Panama Papers.
The UK tax office is planning to introduce hefty new penalties of up to 200% on taxpayers with undeclared offshore investments, prompting calls from the Association of Taxation Technicians for people to get their affairs sorted sooner rather than later.
