The landscape in a key area of UK tax policy is set to change ‘for ever’, a KPMG tax expert said after the European Commission announced that it has formally asked the UK to amend two anti-avoidance regimes.
Dave Hartnett explains the new penalties for tax evasion
Several countries are tackling aggressive tax planning through improved transparency and disclosure, the OECD said.
A new report sets out a range of approaches, from mandatory disclosure to forms of ‘co-operative compliance’.
The Registered Pension Schemes (Provision of Information) (Amendment) Regulations, SI 2011/301, and the Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations, SI 2011/302, make changes to the information about individuals which a scheme administrator is required to repor
The Social Security (Contributions) (Amendment) Regulations, SI 2011/225, provide that certain expenses paid to MPs are disregarded in calculating earnings chargeable to class 1 national insurance contributions, in order to align the tax and NIC treatment of MPs’ expenses.
The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations, SI 2011/214, amend the excepted estates regulations, which set out the circumstances in which a person is not required to deliver an inheritance tax account to HMRC of the property comprised in the estate of a
The Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2011/170, extend the disclosure of tax avoidance schemes regime (DOTAS) to inheritance tax by describing certain IHT arrangements involving transfers of property into trust which must be notified to HM
Patrick Way on EIS and connection
Almost seven million people filed their self assessment tax returns online this year, and a record 572,455 online returns were filed on 31 January. More than 49,000 of those returns were filed between 4pm and 5pm.
‘The Big Four accountancy firms have come under attack for maintaining on average more than 20 offices each in offshore tax havens despite countries working together to crack down on tax avoidance … MP Chuka Ummuna, who earlier this month confronted Barclays chief executive Bob Diamond over the b