HMRC’s top tax official told MPs yesterday that he was very sorry that HMRC made a ‘mistake’ resulting in no interest being charged on national insurance contributions payable by Goldman Sachs following the failure of an avoidance scheme.
HMRC’s head of tax was set to face questions from MPs today over a settlement with Goldman Sachs in which the bank was ‘forgiven’ interest of £10m on a failed tax avoidance scheme, according to reports in Private Eye and today’s Guardian.
HMRC has launched a campaign to target private tutors and coaches who have failed to declare their income.
HMRC will ‘stay on the trail’ of British investors who fail to come clean under the UK-Switzerland agreement signed last week, an investigations expert has told Tax Journal.
HMRC is to extend its trial of a proposed ‘single compliance process’ to ensure that sufficient data is collected to ‘test the process fully’.
James Bullock explains the best course of action for resolving a tax dispute
There is a strong argument for pumping extra funds into HMRC’s efforts to reduce the tax gap, according to a leading firm of accountants and business advisers.