HMRC
Avoidance investors must carefully consider
Investors facing fines from HM Revenue & Customs over their involvement in so-called avoidance schemes must carefully consider the motives of action groups that offer them help, warns a leading law firm.
Tax & Regulation | 17 Oct 14
UK tax gap widens to £34bn
The tax gap has increased to £34bn in the past year according to the latest figure from HM Revenue and Customs, but Baker Tilly’s George Bull has said that HMRC are nonetheless “winning the battle” against tax avoidance.
United Kingdom | 15 Oct 14
Another blow to QROPS
In the Taxation of Pensions Bill, debated in the House of Commons yesterday, and accompanying notes published by HMRC, a new requirement for QROPS to be tested against the lifetime allowance (LTA) more than just at crystallisation, has been inserted.
United Kingdom | 13 Oct 14
HMRC evasion clampdown sees jump in criminal
The number of criminal prosecutions for tax evasion has grown by a third in the space of a year as HM Revenue and Customs (HMRC) clamps down on the UK’s £35bn tax gap, according to Thomson Reuters.
United Kingdom | 10 Oct 14
HMRC redefines promoters of tax avoidance
Draft legislation which is being examined by HM Revenue and Customs (HMRC) will exclude two types of people from the definition of promoters of tax avoidance schemes.