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
Do the accelerated payment proposals to tackle mass marketed tax avoidance go too far? Jolyon Maugham and Sophie Dworetzsky set out opposing views
Retrospective legislation and ECHR
The cut in the top rate of income tax from 50% to 45% set up a tax avoidance opportunity. The numbers suggest plenty took advantage of it, David Smith reports
HMRC’s Fast facts online publication trumpets ‘record revenues’ for the UK, but the department should be careful in the way it puts its message across, writes Andrew Hubbard