Margaret Hodge calls for overhaul of UK tax laws
Former chair of the UK public accounts committee Margaret Hodge, who has repeatedly attacked the use of offshore tax avoidance schemes, has called for an overhaul of the British tax system.
HMRC
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HMRC backtracks on loan tax rule for non-doms
HM Revenue & Customs has backed out of a controversial policy to scrap concessional treatment of non-domicile loans.
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Tax body chides UK Gov’t plan to jail accidental evaders
The UK Government’s pledge to introduce a criminal offence that could put unintentional offshore tax evaders behind bars has been criticised by the Chartered Institute of Taxation (CIOT).
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Global film scheme gang on trial for £100m tax fraud
A financial adviser and a group of film producers who set up an international scheme are facing a trial for fraud.
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HMRC defeats tax avoidance scheme over DTA misuse
A tax avoidance scheme which exploited the UK’s double-taxation agreement with the Isle of Man has been defeated by HM Revenue & Customs.
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Accelerated payment notices prolong HMRC inquiries, firm says
HM Revenue & Customs has “little incentive” to complete tax investigations after last year’s introduction of accelerated payment notices, a London-based law firm has warned.
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New accelerated payment disputes could have widespread impact
Further High Court challenges to accelerated payment notices could have wider implications on UK taxpayers, a tax specialist warns, following the rejection of a judicial review in July.
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HMRC nets £1bn from accelerated payment notices
HM Revenue & Customs (HMRC) has collected £1bn in tax payments from users of tax avoidance schemes as a result of the UK Government’s accelerated payment rules to collect disputed tax upfront.
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Taxpayers in accelerated payment notice saga offered funding
UK-based financial services provider LDF is offering a loan facility to suspected tax avoiders to help them meet payment deadlines arising from accelerated payment notices.
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Australia edges back after huge HMRC QROPS cull
An Australia-based overseas pension scheme has been added to HM Revenue & Customs’ approved list of qualified recognised overseas pension scheme (QROPS) after the body delisted thousands of schemes in July.
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Case against delayed Guernsey QROPS transfer thrown out
A case against pension administrator Capita which claimed there were “unreasonable delays” to an overseas pension transfer has been rejected by the Pensions Ombudsman Service (POS).
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IHT savings to hit new record through SME relief
UK taxpayers are set to save a record £565m in inheritance tax this year by taking advantage of a Government scheme which offers relief to investors in small businesses.