A man who set up more than 50 fake tax agent companies to commit a £1m tax fraud has been jailed for two years.
HMRC have been released from an undertaking restricting certain covert activity by the department’s criminal investigators, the Exchequer Secretary to the Treasury announced.
The work of HMRC’s High Net Worth Unit produced ‘additional tax yield’ of £162m in 2010/11, according to a Commons written answer.
HMRC are reminding VAT ‘rule-breakers’ that they must notify HMRC by 30 September that they plan to make a voluntary disclosure if they wish to take part in the disclosure initiative launched in July.
John Cassidy reviews the raft of recent case law on this issue
Penalties for failure to comply with notices under FA 1998
Determination of penalties by First-tier Tribunal
Penalties for failure to comply with notices under FA 2008
A bogus financial adviser was jailed for three years after Hull Crown Court heard that he persuaded more than 30 people to make unauthorised transfers of £3.4m from pension funds to avoid paying tax of £1.9m.
The Chartered Institute of Taxation has commended HMRC’s ‘willingness to listen’ to criticisms of the department’s original proposals to tackle dishonest conduct by tax agents.