HMRC m tax avoidance fines
An international law firm has accused HM Revenue & Customs of a “sudden and unprecedented escalation” after it revealed full details about the powers which will allow it to impose £1m fines on tax advisers.
HMRC
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Tax avoiding celebs should
A senior accountant has said celebrities should consider their long term reputations when hiding their assets from HM Revenue & Customs, as a variety of popular figures are criticised for using controversial tax avoidance scheme Liberty.
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HMRC up front taxing to trigger wave
Controversial proposals to allow HM Revenue & Customs to retrospectively charge contentious tax up front could trigger a “wave of insolvencies” and indirectly affect shareholders, warns a leading accountancy firm.
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Tax expert labels HMRC proposals unconstitutional
Proposals by HM Revenue & Customs to charge contentious tax payments up front have been called “unconstitutional” by a senior figure at an international law firm.
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Skandia praises HMRC for preventing IHT
Skandia has said that while HM Revenue & Customs prevented a mass headache by leaving existing trusts out of its proposed reforms to the calculation of inheritance tax, it will create thousands of new demands for financial advice.
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HMRC accused of assault on trusts
A leading tax specialist has described recent proposals by HM Revenue & Customs to crack down on inheritance tax avoidance as the latest in a series of assaults which may lead to the ultimate demise of trusts.
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law society call for body to veto tax policy
The City of London Law Society has called for an independent body to be set up with the power to veto tax legislation as a way to avoid ‘huge damage’ to the UK tax regime’s reputation for stability.
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HMRC trust proposals target IHT avoidance
HM Revenue & Customs has proposed a limit to the amount an individual can transfer into a series of trusts tax free, in its latest attempt to crack down on the use of multiple trusts to avoid inheritance tax (IHT).
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One fifth accountants unaware of disclosure terms
One fifth of UK accountants and tax advisers have not told all their clients about the terms of the Liechtenstein Disclosure Facility, a survey has revealed.
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hmrc criticised for sending letter to swiss
HM Revenue & Customs has sent out another letter to UK holders of Swiss bank accounts warning that they must settle their liabilities, and giving them the option of using the Liechtenstein Disclosure Facility.
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HMRC claws back extra bn from tax cheats
HM Revenue & Customs pulled in nearly £24bn of extra tax revenue last year following its controversial campaign to close in on tax avoidance.
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HMRC faces fresh criticism over conduct
HM Revenue & Customs has been accused of “railroading” taxpayers into making payments, in yet another scathing assessment of its approach to tax avoidance.