HM Revenue & Customs has been accused of not doing enough to tackle tax fraud and making “only limited progress” in reducing the UK’s tax losses, according to the House of Commons’ Public Accounts Committee (PAC).
Celebrity investors in a film scheme involving the distribution rights to two Disney films face a combined tax bill worth over £600m ($845m, €754m) after the Supreme Court rejected its final appeal against HM Revenue & Customs (HMRC) over £117m the scheme received in tax relief.
A film scheme involving the distribution rights to two Disney films is taking HM Revenue & Customs to the UK Supreme Court to defend the £117m ($166m, €145.5m) it received in tax relief.
HM Revenue and Customs (HMRC) has raised more than £4bn ($5.7bn, €5bn) in revenues from inheritance tax (IHT) for the first time in its history, according to the latest figures published by the UK tax office.
HM Revenue & Customs (HMRC) has collected more than £150m ($213m, €188m) following a crackdown on unpaid capital gains tax (CGT) over the past 12 months.
HM Revenue & Customs (HMRC) has shut down a major tax avoidance scheme used by bankers at UBS and Deutsche Bank to avoid paying around £135m in tax.
The number of Australian Qrops recognised by HM Revenue & Customs has leapt to more than 100 schemes in its latest updated list.
Including popular inheritance tax planning vehicles in the UK’s tax avoidance disclosure regime would be a step too far, HM Revenue & Customs has agreed.
HM Revenue & Customs has collected more than £2bn ($2.9bn, €2.6bn) in disputed tax from would-be avoiders since it brought in its Accelerated Payments notices in 2014.
A documentary programme on Britain’s Channel 4 to be aired on Monday (8 February) will see actor Greg Wise pose as a client while two financials advisers offer to help him exploit HMRC’s tax loopholes.
Horror stories have been rife since HM Revenue and Customs (HMRC) committed to transforming and digitising the UK tax system at the March 2015 budget. To allay fears the tax regulator has addressed some of the myths that have arisen.
The number of people taking advantage of the new pension freedoms dropped by 13.3% between the third and fourth quarters of 2015, with the total value of funds released down by nearly a third.
