HMRC powers to scrutinise unexplained wealth go live
“Significant” regulation that requires individuals to explain to HM Revenue & Customs and the Serious Fraud Office (SFO) where their wealth came from has come into force.
HMRC
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HMRC reveals bizarre tax return excuses of 2017
Spilt coffee, a wife who sees aliens and vertigo were just some of the excuses HM Revenue & Customs (HMRC) received in 2017 from people who failed to file their tax returns. Click through the slides to see some of the other intriguing excuses and some of the wildly optimistic expense claims the organisation received.
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Paradise Papers and Brexit to ‘batter’ UK taxman
HM Revenue & Customs must urgently set out a coherent plan and demonstrate it is fit for the future as it struggles to cope with its ever-growing workload and limited resources, the UK’s public accounts committee said.
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HMRC penalty policy needs urgent clarification
UK taxpayers owning up to past mistakes could face a 10% fine, according to changes to HM Revenue & Customs’ penalty factsheets.
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HMRC reveals top 10 tax fraud cases of 2017
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.
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Expat football mogul case shows limits of HMRC power
A football entrepreneur and Dubai resident, who rejected HM Revenue & Customs demands for information, has won a court case against the UK taxman.
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Offshore advisers fear new regulatory burden from HMRC
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.
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HMRC powers worrying for taxpayers
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.
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Hong Kong drops off HMRC Rops list
HM Revenue & Customs has removed all 19 Hong Kong recognised overseas pension schemes (Rops) from its online notification list.
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Judge not swayed by HMRC tax blunder
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.
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Red flags to watch out for with HMRC’s ‘pay first’ deterrent
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.
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Tough measures to tackle cold calling revealed
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.