HMRC
Accelerated payment demands net £1.3bn for HMRC
The UK taxman raked in 21% more cash from accelerated payment notices (APNs) in 2016/17, netting HM Revenue & Customs £1.3bn ($1.76bn, €1.47bn) from individuals and small businesses.
PEOPLE MOVES: HMRC, Deloitte, StanChart
HMRC’s most senior tax professional is to retire, while Deloitte has poached a senior commissioner from the US Internal Revenue Service, and Standard Chartered Private Bank has hired two veteran private bankers in Asia.
Abusive tax schemes face bigger penalties
The UK Government’s latest finance bill includes new penalties targeting advisers who ‘enable’ the use of tax avoidance schemes.
Tax avoiders targeted in HMRC recruitment drive
HM Revenue & Customs’ spending on staff to target tax avoiders rose 7% over the past 12 months, increasing headcount at its Counter-Avoidance Directorate (CAD).
Best Practice | 8 Sep 17
No safety net for life policy part surrenders
HM Revenue & Customs will be able to review “disproportionate” tax bills slapped on people who withdraw money from their life policies but “it is crucial that this isn’t seen as a safety net”, warns Old Mutual Wealth tax and financial planning expert Rachael Griffin.