Almost 1,000 bogus websites have been shut down and more than 200,000 bogus emails purporting to come from HMRC have been reported in the past year, HMRC said as it announced a new cyber crime team to ‘tackle tax fraud by organised criminals more proactively’.
Tax agents have welcomed new HMRC procedures aimed at reducing the number of employers facing penalties for late filing of annual returns.
The Data-gathering Powers (Relevant Data) Regulations, SI 2012/847, specify the data that data-holders may be required to provide to an officer of HMRC under the FA 2011 Sch 23.
HMRC should follow the Treasury Committee’s advice and establish a ‘general disclosure facility’, according to the Chartered Institute of Taxation.
HMRC is offering online traders who have not paid their
HMRC has published a number of Tax Information and Impact Notes relating to changes to the PAYE system and NICs legislation:
The Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2012/822, amend SI 2003/2682 to introduce Real Time Information (RTI), and close the simplified PAYE deduction scheme to new employers, from April 2012
With public debt across Europe reaching unsustainable levels, governments are under more pressure than ever before to raise revenues without harming prospects for growth. This report examines different approaches to fiscal consolidation, and why better tax compliance has a key role to play; trends in both direct taxes and VAT rates; whether the proposed Financial Transaction Tax helps or hinders; the tax measures being introduced by several Member States (examining countries with record deficit levels as a proportion of GDP and those introducing new tax initiatives); tax policy issues for the UK; and the wider economic outlook for the Eurozone.
HMRC has announced the following publications and updates:
Child Trust Fund
CTF LA Bulletin 18
Customs and excise
MPs on the Treasury Committee have challenged the logic behind the decision to withhold tax from anonymous Swiss bank accounts at a rate lower than the highest rate of UK income tax.