Paul McGrath and Robert Posgate (Withers) explain the reporting requirements and responsibilities of the register of people with significant control, which comes into effect from 6 April 2016.
Tori Magill and Anne-Marie Ottaway (Pinsent Masons) look at the recent controversy and the fine lines between tax planning, avoidance and evasion.
Expect HMRC to act, writes Jessica Parker (Corker Binning)
HMRC has asked for access to the leaked data – the ‘Panama papers’ – which, it is alleged, reveal large-scale tax evasion and money laundering facilitated by Mossack Fonseca, a law firm based in Panama.
BPP v HMRC tells us that HMRC must comply with rules and directions issued by the tax tribunals, reports Robert Waterson (RPC).
Tax advisers are going to be required by law to inform their clients about the dangers of not declaring offshore income using wording specified by HMRC. No harm in that, you might think, but where does it end?
Peter Vaines (Field Court Tax Chambers) suggests it is time for Parliament to step in to counter unintended consequences of APNs.
Rupert Shiers (Hogan Lovells) comments on key areas where HMRC will focus in 2016 and where the law regulating HMRC and tax disputes will be developed.
The Enforcement by Deduction from Accounts (Imposition of Charges by Deposit-takers) Regulations, SI 2016/Draft, are open for consultation until 8 January 2016.
Tax advisers have welcomed the government’s decision to restrict the use of a new ‘strict liability’ offshore tax evasion criminal offence to situations where the amount of tax underpaid is £25,000 or more.