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
HMRC has published a guidance note on FB 2014 (Part 5 and Schs 30–32), promoters of tax avoidance schemes. It contains a flowchart and examples. The guidance explains that the objectives of the regime are to:
Few advisers will be surprised at the First-tier Tribunal’s rejection of the highly artificial ‘blue box’ tax planning scheme. David Whiscombe examines the decision which provides a useful summary of the current position on the Ramsay principle
Nigel Doran analyses the 147 page tribunal decision, which has attracted so much recent media coverage.
BKL Tax reports on the case of Gardiner, involving tax avoidance and negligence
The scheme involved ‘gifting’ gilts to a charity subject to option and security arrangements which ensured that 99% of the gilts would be passed on to a trust set up for the benefit of Mr Ferguson and his family.
Income tax scheme failed