HMRC
Tax & Regulation | 22 Jul 15
UK tax office considers changes to lifetime allowance protection
The UK tax office has decided to offer pension savers the ability to protect their entitlement to £1.25m lifetime allowance when a new lower limit is introduced on 6 April 2016, but is looking at changing the way individuals register for the protection.
Offshore Bonds | 22 Jul 15
HMRC spares ‘non-aggressive’ trusts from IHT avoidance scheme crackdown
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.
United Kingdom | 21 Jul 15
Experts question focus of HMRC offshore tax evasion powers
Experts have criticised HM Revenue & Customs for using scare tactics and having an incorrect focus after the government body announced new “strict liability” powers to tackle offshore tax avoidance last week.
United Kingdom | 21 Jul 15
Deadline for HMRC employee benefit trust settlements nears
Companies have just days left to settle their use of employee benefit trusts (EBTs) with HM Revenue & Customs or risk facing substantially higher tax bills, accountancy firm Moore Stephens has warned.
Four in five accountants leaving clients in dark over LDF
Just 19% of accountants have informed their clients about the Liechtenstein Disclosure Facility despite the beneficial programme being withdrawn in December, a survey has revealed.