The queue of tax disputes awaiting litigation through the UK’s tax tribunals set a new record last year, with almost 30,000 cases waiting to be heard at the end of last year, according to official figures. The number of outstanding appeals by taxpayers to the first-tier tribunal increased by 8.5%… – Continue reading
After a landmark win for HMRC against Abbey National Treasury Services (ANTS) and Cater Allen International in June, the Revenue has yet more cause to celebrate After a first-tier tribunal decision in June secured £16m in unpaid tax from ANTS, HMRC successfully protected a further £45m late last week. The… – Continue reading
A challenge by way of judicial review to notices issued by HM Revenue & Customs (HMRC) requiring “accelerated payment” of tax pending the outcome of a tax dispute has been dismissed by Mrs Justice Simler DBE in the High Court.04 Aug 2015 Tax Disputes and Investigations Litigation & International Arbitration… – Continue reading
UK tax authority HM Revenue and Customs (HMRC) has won a challenge concerning the legality of its accelerated payments regime. HMRC began sending Accelerated Payment Notices (APNs) to UK users of certain tax avoidance schemes in August 2014. The notices give recipients 90 days to pay the tax in question…. – Continue reading
HM Revenue & Customs has proposed strengthening the ‘hallmarks’ it uses to identify inheritance tax planning arrangements but has excluded certain types of trusts used alongside life assurance policies. Under draft legislation released last week, a scheme will fall under the disclosure of tax avoidance schemes regime if its main… – Continue reading
HM Revenue and Customs (HMRC) has updated its guidance on the Employment Allowance in light of media reports of an attempted avoidance scheme designed to exploit the allowance. Under the Employment Allowance, employers can reduce the amount of National Insurance contributions (NICs) they pay for their employees by up to… – Continue reading
In the recent case of Herefordshire Property Company Ltd v HMRC1, the First-tier Tribunal (Tax Chamber) (“FTT”) allowed the taxpayer’s appeal against the imposition by HMRC of a penalty, which was based on an allegation of negligent implementation of a tax planning scheme by the taxpayer. Regular readers of our… – Continue reading
Promoters of tax avoidance schemes that have been identified as “high risk” by UK tax authorities must now publicise that they are being monitored so that potential customers are aware of the risks of using them, HM Revenue and Customs (HMRC) has announced.10 Mar 2015 Tax Disputes and Investigations Tax… – Continue reading
Planned new measures to tackle what UK tax authorities have described as “persistent” use of avoidance schemes would target the promoters of these schemes, as well as taxpayers, an expert has said.03 Feb 2015 HM Revenue and Customs (HMRC) is consulting on proposed additional financial and reporting burdens for those… – Continue reading
HM Revenue and Customs (HMRC) has published a consultation paper, ‘Strengthening Sanctions for Tax Avoidance’, setting out proposals to tackle the serial use of tax avoidance schemes. Tax avoiders can already face penalties, but this consultation proposes additional financial costs such as a surcharge and additional reporting requirements on users… – Continue reading
HM Revenue and Customs (HMRC) has confirmed it has extended the lifetime of the Contractor Loan Settlement Opportunity (CLSO), a chance for contractors to own up to using an offshore tax avoidance scheme, until 30th June 2015. The settlement opportunity was originally meant to be open until January 2015. HMRC… – Continue reading
As multinationals are forced to reveal more about themselves, where should the limits of transparency lie? HOWARD SCHULTZ, the head of Starbucks, said last year that “the currency of leadership is transparency.” If so, bosses should be feeling ever more qualified to command their troops. Business is being forced to… – Continue reading
HM Revenue and Customs (HMRC) has issued a new factsheet for users of tax avoidance schemes, explaining how its follower notices and accelerated payments regimes operate. The factsheet defines a tax avoidance scheme as “a set of arrangements that try to use the law to gain a tax advantage that… – Continue reading
HM Revenue and Customs (HMRC) has issued a new factsheet for users of tax avoidance schemes, explaining how its follower notices and accelerated payments regimes operate. The factsheet defines a tax avoidance scheme as “a set of arrangements that try to use the law to gain a tax advantage that… – Continue reading
The Government has announced a further crackdown on tax avoidance schemes which fall under its Disclosure of Tax Avoidance Schemes regime. In the Autumn Statement today, the Government said it will increase penalties for non-declaration of Dotas schemes and publish more information on schemes and their promoters. It says this… – Continue reading
UK chancellor George Osborne is set to unleash a new strict liability rule and higher penalties to capture those with offshore assets who are ignoring their tax obligations, according to a leading tax expert. John Cassidy, partner at audit, tax and advisory firm Crowe Clark Whitehill, predicts Osborne’s Autumn Statement… – Continue reading
The backlog of tax disputes waiting to be heard has reached a new record high with a particular surge in the number of high value cases lodged with the Upper Tribunal, according to Pinsent Masons, the law firm behind Out-Law.com.25 Nov 2014 Tax Disputes and Investigations Tax Private wealth tax… – Continue reading
The backlog of tax disputes waiting to be heard has reached a new record high with a particular surge in the number of high value cases lodged with the Upper Tribunal, according to Pinsent Masons, the law firm behind Out-Law.com.25 Nov 2014 Tax Disputes and Investigations Tax Private wealth tax… – Continue reading
Criticism of slow prosecution of tax avoidance schemes ignores HMRC’s impressive success in closing down the aggressive tax avoidance industry in recent years Tuesday’s Public Accounts Committee (PAC) report and the associated media drive, which accuses HMRC of being ‘unacceptably slow’ in pursuing tax avoidance schemes, is the latest in… – Continue reading
Britain’s taxman HM Revenue & Customs (HMRC) paid out £400,000 in 2013 to whistleblowers who notified the authority of people who had avoided paying tax through elaborate schemes. According to a Freedom for Information (FoI) request, made by the Telegraph, whistleblower payouts ranged from £50 (€63, $81) to £1,000. The… – Continue reading
Advisers should notify their insurers early if they think they may be facing claims from advice to invest in tax avoidance schemes, a professional indemnity insurance (PII) lawyer has warned. Solicitor at commercial claims resolution firm Triton Global, James Field, said acting late could mean advisers risk “falling between the… – Continue reading
