People engaging in tax avoidance schemes that might be considered abusive will be challenged by the tax authorities, will receive little sympathy in court and may be vulnerable to widespread adverse publicity, the Society of Trust and Estate Practitioners warned as it unveiled a five-point ‘progr
Five thousand homes, each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.
Andrew Penman answers a reader's query on tax on a retiring partner.
The Finance Bill will amend excluded and settled property rules to close an avoidance scheme involving interests in offshore trusts.
Finance Bill 2012 will amend the settlements legislation to close an avoidance scheme involving corporate settlors. The purpose of the changes is to confirm that ‘income arising under a settlement is treated as that of the settlor only where the settlor is an individual’.
With more examples emerging of HMRC seeking information about non-UK assets to check there are no remittances, Richard Clarke notes non-doms may be forced to review these to ensure compliance.
Paula Tallon discusses a dilemma facing many family businesses.
HMRC has designated LIFFE Administration and Management as a recognised stock exchange under ITA 2007 s 1005(1)(b) with effect from 26 September 2011.