HMRC takes in record levels of inheritance tax
HM Revenue & Customs took in nearly £400m worth of inheritance tax payments in April, the biggest ever amount for a single month.
HMRC
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HM Revenue & Customs ATED profits set to leap by 50%
HMRC’s receipts from the annual tax on enveloped dwellings (ATED) are set to rise by nearly 50% over the 2015/16 tax year.
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HMRC scraps thousands of QROPS from overseas pensions list
HM Revenue & Customs has dropped thousands of QROPS from its recognised overseas pension schemes (ROPS) list, with Australian schemes faring the worst.
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QROPS interest grows following UK pension ‘frustrations’
Advisers have reported a growing interest in QROPS as expats grow increasingly “disappointed and frustrated” with the inability of UK providers to accommodate April’s pension freedoms.
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HMRC tax evasion property raids rise by a fifth
The number of raids on premises carried out by HM Revenue & Customs during investigations into tax evasion has increased by nearly 20% from 500 in 2013/14 to 593 last year.
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HMRC confirms rules around QROPS list suspension
HM Revenue & Customs has confirmed that transfers made after 6 April 2015 into QROPS that are no longer featured on its overseas pensions list when it returns from suspension will not be tax-free.
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Australian QROPS exodus expected as HMRC suspends pensions list
HM Revenue & Customs will suspend its overseas pension list from tomorrow, with experts predicting that QROPS based in Australia and other jurisdictions will be absent when it returns next month.
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Ex-lovers and colleagues fuel rise in tax whistleblowing
Experts have said that a 50% leap in payments by HM Revenue & Customers to tax informants could be driven by ousted spouses and angry ex-colleagues
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Gibraltar QROPS operator accountability set to rise
Gibraltar QROPS operators could see their responsibilities as a trustee extend to include the due diligence of overseas financial advisers and the risk classification of policyholders in their schemes, under proposals from the jurisdiction’s regulators.
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Bond surrender: Technical briefing with Prudential
Partial surrenders of life assurance and similar policies create huge tax traps, which means advice on exit is just as important as it was at inception.
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Tax evader crackdown by HMRC widens to smaller cases
A sharp fall in the average length of custodial sentences given to criminal tax evaders is a clear signal that HM Revenue & Customs is increasingly targeting smaller cases, according to research by Pinsent Masons.
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HMRC to act against aggressive tax avoidance scheme
The UK tax office said it plans to take firm action against the users and promoters of a tax avoidance scheme run by high profile recruitment company, Anderson Group.