HMRC will not take any action in relation to penalties for late submission of the first ‘client lists’, due on 30 April, providing they are with HMRC by 3 May, according to a DOTAS update published by the CIOT.
HMRC have offered employers who have used employee benefit trusts and similar arrangements, designed to defer or avoid tax and NICs, an ‘opportunity’ to settle tax liabilities in an initiative that one professional body has described as ‘messy’.
Sue Walton, head of HMRC's anti-avoidance group, explains how HMRC aim to minimise the need for intervention to ensure compliance
Tony Spillett sets out a ten-point plan to establish and maintain a good working relationship with HMRC
Many recent cases in the UK on tax avoidance schemes have contained the following citation from the judgment of Ribeiro PJ in the Hong Kong Final Court of Appeal in the case of Collector of Stamp Revenue v Arrowtown Assets Ltd (2004 ITLR 454):
Helen Lethaby reviews the last month's developments in tax, including key measures in the Finance Bill, the new approach to tackling tax avoidance, and recent case law
Tax avoidance is legal but ‘is it fair, or even moral?’ asked Clive Anderson, the broadcaster and former barrister, as he introduced a panel of tax law specialists on the BBC’s Unreliable Evidence programme, broa
The government is to close with effect from 6 April 2011 an ‘unintended tax loophole’ for UK residents transferring pension savings overseas, the Treasury announced.
Revenue & Customs Brief 18/11 sets out HMRC's current view on inheritance tax issues associated with employee benefit trusts. It ‘supersedes and amplifies’ Revenue & Customs Brief 61/09.
Tax professionals have found a good deal to be positive about in a paper setting out the government’s strategy for tackling tax avoidance – an issue that seems set to assume an even higher profile than it has in recent months.