hmrc loses multi billion pound court case
Last week the Revenue lost a major case in the European courts which is set to cost the Exchequer at least £5bn. Baker Tillys David Heaton explains what happened.
HMRC
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uk funds regime changes aimed at foreign
HM Revenue & Customs has published its final amendments to the UK’s tax regime as it affects UK-authorised funds, ahead of their taking effect on 19 December.
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hmrc targets salary sacrifice schemes
HM Revenue & Customs has highlighted that some salary sacrifice schemes are straying close to tax avoidance and could be cover for more complex arrangements.
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avoidance scheme disclosure falls sharply
There was a sharp decline in the number of disclosures of tax avoidance schemes in the latest six months to September 2013, according to official figures from the HM Revenue and Customs.
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highest number of staff leave hmrc in four years
Almost 1,700 employees left HMRC in the last 12 months, the highest number in four years, as the department comes under increased pressure to clamp down on tax evasion.
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aberdeen loses appeal over tax avoidance scheme
HM Revenue & Customs has won a legal battle against Aberdeen Asset Management over an offshore tax scheme used to pay employees’ bonuses.
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hmrcs tax haul jumps 40 boosted by investigations
The amount of additional tax recovered by HM Revenue & Customs following investigations into personal tax returns has increased by almost 40% since last year.
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uk tax gap falls marginally to 7
The UK’s ‘tax gap’ for the 2011-2012 tax year at stood at £35bn ($56bn, 41bn), or 7%, continuing a long-term downward trend, according to figures released late last week.
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HMRC under fire from independent body
HM Revenue & Customs has come under fire for not getting to grips with the rise in level of complaints against it, which more than doubled over the year to the end of March 2013.
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industry mulling qrops code of conduct
A group of financial advisers, pension consultants and others is discussing the creation of an international code of conduct for those who advise on QROP schemes.
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hmrc introduces alternative route for tax dispute
Individual taxpayers and SMEs will now be able to request to settle a tax dispute with HM Revenue & Customs through an arbitrage process, rather than through tribunal.
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qrops industry relief at hmrc announcement
QROPS industry officials expressed relief over today's anticipated announcement by HM Revenue & Customs concerning how they are to handle transfers of pensions into qualifying recognised overseas pension schemes.