Failed scheme and alleged negligence by tax advisers
A new survey of CFOs and tax directors from across Europe, Asia and the Americas found 55% have altered their tax plans, or delayed decisions, as they await details of potential US tax reforms.
HMRC carried out 362 reviews into businesses’ transfer pricing practices last year, with the amount of tax potentially under dispute rising substantially to £3.8bn, according to figures compiled by Pinsent Masons.
Latest figures from HMRC show the number of people paying the 45p additional rate of tax increased to 328,000 (1.1%) in 2014/15 (from 311,000 in 2013/14). This is mainly due to the additional rate threshold remaining fixed at £150,000.
HMRC has withdrawn form 41G(Trust), which has long been the means by which trustees provide HMRC with details of new trusts. New notifications will now have to wait until the online ‘trusts registration service’ is launched, expected to be in June, giving access to the new trusts register.
HMRC has published the following:
Deeming domestic provisions and double tax treaties
VAT repayment subject to corporation tax