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.
HMRC
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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.
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HMRC triumphs in anti-accelerated payment notice legal battle
A challenge to the legality of HM Revenue & Customs’ accelerated payment notices has been rejected by the High Court.
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The future of the life industry: Eight predictions from RL360°
In the first of a series of insights from prominent life industry figures, David Kneeshaw, chief executive at RL360°, takes a look at future opportunities.
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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.
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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.