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).
HMRC
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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.
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Taxing the UK’s wealthy: A timeline of a changing landscape
Law firm Edwin Coe maps out the upcoming changes to the taxation of high net worth individuals in the UK, as announced in the last two Budgets.
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Tax strategies: Liechtenstein Disclosure Facility
The Liechtenstein Disclosure Facility (LDF) has been with us for nearly six years. It now only has a limited shelf life as it is due come to an end at the end of 2015, which is earlier than was previously planned.