gaar draft to be published this month as
Tax evasion and aggressive tax avoidance were once again targets of the UK Chancellor George Osborne when he gave his Autumn Statement this afternoon.
HMRC
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storms ahead for the qrops industry
As 2012 comes to a close, Montfort International managing director Geraint Davies voices his concern that there could be trouble ahead for the overseas pension scheme sector…
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hmrc sends out tax avoidance warning letters
HM Revenue & Customs is sending letters directly to 1,500 people who it believes have signed up to one particular avoidance scheme.
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hmrc struggles to deal with tax avoidance
HM Revenue & Customs is currently investigating 41,000 cases of tax avoidance in the UK with an estimated £10.2bn at stake, according to a detailed report conducted by the National Audit Office, which said “there is little evidence HMRC is making progress in preventing the sale of highly contrived tax avoidance schemes”.
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time has come for a general tax amnesty
It is time HM Revenue & Customs accept that a general amnesty for tax evaders should be put in place, according to Gary Heynes, private client group partner at chartered accountants, Baker Tilly.
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hmrc warns tax evaders time running out
HM Revenue & Customs is warning UK residents with Swiss bank accounts that the “days of hiding money to evade tax are over” as the imposition of new tax laws on 1 January draws ever closer.
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hmrc claws back 21bn pounds from tax evaders
HMRC clawed back a record £21bn from its investigations into tax avoiders and evaders in the year to March, according to accountant UHY Hacker Young.
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hmrc more than doubles revenue
HM Revenue & Custom’s increasingly aggressive approach to tax avoidance has led to a 64% rise in the revenue it generated from investigations into self assessment tax returns in the 2011-2012 tax year.
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tax avoidance probe being considered by uk mps
The House of Commons’ public accounts committee in the UK is considering an inquiry into international tax avoidance, according to a report in the Financial Times.
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uk adviser jailed for vat fraud gambled proceeds
A UK-based financial adviser has been jailed for five years for helping a client commit a VAT fraud, the proceeds of which he then used to gamble in London casinos.
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working the tax system
Tax avoidance, or ‘abuse’ as the Treasury would see it, has long been a problem for HMRC. From next April new legislation, known as GAAR, could be in place to clamp down on perceived abusers. How will it affect you and your clients?
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hmrcs foreign expat tax take increases
The tax-take from investigations into high income foreign workers has increased by 23% over the past two years, according to figures obtained by international law firm Pinsent Masons, indicating a heightened focus by HM Revenue & Customs on the financial affairs of those working in the City.