HMRC is taking a light touch to penalties for late self-assessment tax returns, writes Paul Aplin.
HMRC’s efforts to secure penalties in tax planning cases, despite taxpayers having been professionally advised, constituted a flawed approach, argues Iain Macleod (EDF Tax Defence)
Andrew Goldstone and Sarah Albury (Mishcon de Reya) review the latest developments that matter in the private client arena, including: HMRC’s hat trick of wins in cases against schemes promoted by NT Advisors; a consultation on VCTs; Lobler and rectification for the partial surrender of insurance policies; online filing of IHT accounts from August; and Tager and punitive tax-related penalties
Actions have consequences: for HMRC as much as for taxpayers, writes BKL Tax
The penalty for late self-assessment filing needs rethinking. HMRC's recent discussion document looks promising, writes Paul Aplin.
Andrew Goldstone and Victoria Howarth provide an update, including: the increased transparency of ownership of UK companies; new HMRC guidance on the taxation of damages; a recent decision on reasonable excuse for late returns; and why professionals acting as charity trustees need to be aware of potential conflicts of interest
Timothy Jarvis considers the recent decision in McLaren Racing concerning whether penalty fines are tax deductible
Angela Savin reports on the proposed amendments to the grounds of appeal for follower notices penalties
Peter Vaines considers two recent cases where the tribunal seems to be taking a sympathetic view about reasonable excuses
John Hood answers a query for a reader whose client is under investigation by HMRC