According to the Financial Times (10 July 2014), lawyers are scrambling to file compensation claims against advisers who sold tax-saving schemes that have backfired to leave an estimated £5bn bill for individuals.
Employee remuneration scheme involving genuine loans
Bill Dodwell gives his view on the latest phase of the Fair Tax Mark and its application to multinationals
Helen Buchanan comments on Labour’s proposals to close the quoted Eurobond exemption ‘loophole’
According to the Financial Times (7 July), a string of business leaders, sports stars, entertainers and other investors were told on Monday to prepare for tax demands totalling at least £520m, in a crackdown by HMRC.
The debate on tax is being distorted by poor reporting in national media and grandstanding from members of the PAC. It is time for advisers to take a more active role in better informing the public on tax, writes Pete Miller.
On 24 June 2014, the IRS published an update to the Foreign Financial Institutions (FFI) Agreement, under which financial institutions report information to the US authorities in place of a withholding tax.
According to the Financial Times (22 June), plans to recruit dozens of new judges have been drawn up to cope with a wave of litigation expected in response to a £7bn crackdown on tax avoidance that starts next month.
Simon Yeo and Billal Malik consider the judgment in St Matthews (West) Ltd and others v HMRC on the legality of retroactive legislation.
HMRC has strengthened its organisational approach to tax avoidance by creating a new Counter-Avoidance Directorate. We talk to David Richardson, its first director, about its operation