HMRC arrests adviser-led group in £4m fraud investigation
Six people including a financial adviser have been arrested as part of an investigation into a suspected £4m pay as you earn (PAYE) tax evasion and money laundering fraud.
HMRC
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Tax avoidance ‘sham’ defeated in tribunal by HMRC
HM Revenue & Customs has won a legal battle against a £29m offshore tax avoidance scheme where money was supposed to fund research into brain disorders.
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UK tax office considers changes to lifetime allowance protection
The UK tax office has decided to offer pension savers the ability to protect their entitlement to £1.25m lifetime allowance when a new lower limit is introduced on 6 April 2016, but is looking at changing the way individuals register for the protection.
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HMRC spares ‘non-aggressive’ trusts from IHT avoidance scheme crackdown
HM Revenue & Customs has proposed strengthening the ‘hallmarks’ it uses to identify inheritance tax planning arrangements but has excluded certain types of trusts used alongside life assurance policies.
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Experts question focus of HMRC offshore tax evasion powers
Experts have criticised HM Revenue & Customs for using scare tactics and having an incorrect focus after the government body announced new “strict liability” powers to tackle offshore tax avoidance last week.
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Deadline for HMRC employee benefit trust settlements nears
Companies have just days left to settle their use of employee benefit trusts (EBTs) with HM Revenue & Customs or risk facing substantially higher tax bills, accountancy firm Moore Stephens has warned.
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Four in five accountants leaving clients in dark over LDF
Just 19% of accountants have informed their clients about the Liechtenstein Disclosure Facility despite the beneficial programme being withdrawn in December, a survey has revealed.
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Advisers face final chance to use the LDF
Advisers have been warned that time is running out to utilise the Liechtenstein Disclosure Facility (LDF) before it is replaced by a stricter system at the end of the year.
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Majority of QROPS transfer requests are a scam, warns Aegon
Aegon has warned that 80% of the requests it has received for transfers into qualifying recognised overseas pension schemes (QROPS) are designed to swindle savers out of their pension pots.
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Investors take firm to High Court over film scheme scandal
Hundreds of investors have begun a legal battle against UK media investment firm Ingenious after the film production initiative they invested in was accused of being a tax avoidance scheme, media reports have revealed.
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HMRC taskforce targets wealthy Northern Ireland tax evaders
HM Revenue & Customs has set up a new taskforce to tackle tax evasion by wealthy individuals in Northern Ireland.
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Summer Budget 2015: Saving the wealthy from record IHT rates?
Last week, it was revealed that HM Revenue & Customs took in a record £379m worth of inheritance tax (IHT) in April, but with the Tories today confirming a more lenient approach to the tax in Wednesday’s Summer Budget, what is the future price of passing down wealth?