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.
HMRC
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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.
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celebs used tax breaks from shipwreck salvage
Celebrities and some of Britain’s most senior businessmen invested more than £110m into marine treasure hunts, which allowed them to avoid tax on millions of pounds, according to The Times newspaper.
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hmrc head of tax is targeted by protesters
Protesters gatecrashed a college at the UK’s famous Oxford University where HMRC’s former head of tax Dave Hartnett was giving a speech, according to this week’s Oxford Times.
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those hiding assets offshore
Danny Alexander, the UK’s chief secretary to the treasury, this afternoon highlighted how “tax dodging is not limited to our own shores” at his Liberal Democrat party’s annual conference.
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hmrc claims victory over stamp duty avoidance
The UK government has won an important court case defeating the use of a widely-marketed scheme to avoid stamp duty land tax, the knock-on effect of which could see the UK exchequer save up to £170m in lost revenue.
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hmrc launches new tax evasion task forces
HM Revenue & Customs has launched a series of new task forces today to tackle tax dodgers, one of which is aimed at the London-based legal profession.
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hmrc used special computer software
HMRC has used special computer software to collect an additional £26m from inheritance tax over the last year, said David Gauke, exchequer secretary to the Treasury in a detailed speech earlier today at the Institute of Fiscal Studies conference.
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hmrc scoops extra half a million
HMRC has brought in £500m in extra tax, since a special unit was set up to deal with the tax affairs of the countrys wealthiest people.
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gibraltar announces qrops status confirmed
Gibraltar has issued a statement saying that its pension fund administrators have been given the green light in writing by HM Revenue & Customs to resume handling qualifying recognised overseas pension schemes.
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time apportioned reduction changes
Last week, HMRC published a consultation to propose changes to the time apportioned relief tax regime. Here Prudentials Gerry Brown explains what the revenue has set out to do.