HMRC updated its registration guidance to remind filers of the need to wait approximately 24 hours after registering before filing a FATCA return.
Anti-avoidance legislation having immediate effect from 26 February 2015 will restrict to nil the expenditure qualifying for plant and machinery allowances in a sale and leaseback or connected-party transaction, where the person disposing of the asset, or a person connected with them, acquired it
Criticism of HMRC’s failure to prosecute HSBC Swiss tax evaders has been quite unfair, writes Jonathan Fisher QC (Devereux Chambers). There are problems with criminal prosecution and the decision to focus on tax collection through civil settlement is the right one. It makes little sense to criminally prosecute these cases.
The penalty for late self-assessment filing needs rethinking. HMRC's recent discussion document looks promising, writes Paul Aplin.
Helen Adams and Frank Goldberg (BDO) provide a refresher guide to HMRC’s wide range of powers to collect tax debts
Following the censure HMRC received over the HSBC ‘Swiss leaks’ before the Public Accounts Committee on 11 February, as well as further press criticism, HMRC issued a statement on when and how it came by the leaked HSBC Suis
Tori Magill (Pinsent Masons) answers a query on a client who participated in a marketed avoidance scheme and has received a COP9 notice
Jennie Granger (HMRC) writes about the new approach of HMRC’s enforcement and compliance business.
Tax penalties also under review
As announced at Autumn Statement, HMRC is now consulting until 12 March 2015 on a new power, enabling HMRC to achieve early resolution and closure, including payment, in respect of one or more aspects of a tax enquiry, whilst leaving other aspects of the tax enquiry open.