hmrc closes advisers 24m tax avoidance
HM Revenue & Customs has won a Tribunal to close down a tax avoidance scheme which had sought to cheat the public purse of £2.4m through the use of Employee Benefit Trusts.
HMRC
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hmrc looks to simplify as it issues iht trust
HM Revenue & Customs has sought to reduce the complexity of the way inheritance tax trust charges are calculated, in a consultation document released late yesterday in London.
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draft qrops regs said not to apply
The new reporting requirements set down in the draft QROPS regulations issued last month by HM Revenue & Customs will not apply to schemes that lost their QROPS status before the regulations become law, at least as currently proposed, pension industry sources report.
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hmrc launches online tool for calculating
Now that the UK has its first-ever statutory definition of UK residency for tax purposes, the tax authorities have come up with a tool to help people determine their status.
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draft qrops regs provide new clarity
The draft QROPS regulations issued last Friday by HM Revenue & Customs are being seen by pension fund administrators as providing much-needed clarification of the legislation governing such pension schemes, which the Revenue significantly altered last year.
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draft hmrc regs introduce penalties regime
HM Revenue & Customs has published draft QROPS regulations which, among other things, will introduce a formalised penalties regime for former non-compliant QROPS.
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hmrc wins high court case over 20m
HM Revenue & Customs has won a court case against pressure group UK Uncut over claims that a backroom deal it struck with Goldman Sachs, in which it agreed to let the bank off a £20m interest payment, was unlawful.
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uk advisers targeted by hmrc for involvement
Around 200 UK-based advisers, accountants and lawyers are to be scrutinised by HM Revenue & Customs for their involvement with “complex offshore structures” to conceal assets for wealthy individuals and companies.
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advisers increasingly face negligence claims
Advisers are facing the threat of legal action from out-of-pocket clients who have been caught by HM Revenue & Custom’s crackdown on tax avoidance schemes.
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tax cheats warned as hmrc launches new disclosure
Those evading tax by hiding money in the Isle of Man, Jersey or Guernsey are being warned by HM Revenue & Customs to “come clean” before it clamps down on them.
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uk finance bill finally introduces gaar qrops
The UK Parliament today published the Finance Bill 2013 containing a raft of measures aimed at tackling tax avoidance including the country’s first General Anti-Abuse Rule, as well as some expected minor amendments to the reporting requirements for QROPS.
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hmrc continues tax cheat fight as it claims court
A new unit has been established by HM Revenue & Customs to scrutinise the financial affairs of individuals and companies who have evaded tax for up to five years.