On 3 April, the House of Lords further examined the Criminal Finances Bill as it continues its Committee stage. Matters discussed ranged from tax evasion and public registers of beneficial ownership of companies, to bribery and corporate criminal liability for economic crime.
HMRC has published amendments to its guidance on the general anti-abuse rule (GAAR) with effect from 31 March 2017, mainly to reflect new legislation introduced in Finance Act 2015 and Finance Act 2016.
In April, HMRC will invite a group of businesses and their agents to sign up for a ‘making tax digital for business’ pilot.
HMRC has launched a new hotline for the public to report tax evasion and fraud. This service will replace the two separate tax evasion and customs hotlines. The HMRC fraud hotline, on 0800 788 887, will be open between 8am and 8pm seven days a week, 365 days a year.
The Enactment of Extra-Statutory Concessions Order, SI 2017/495, enacts three existing HMRC extra-statutory concessions with effect from 6 April 2017:
HMRC is investigating senior employees and certain customers of a ‘global financial institution’ for suspected tax evasion and money laundering. Press reports have named Credit Suisse as the institution in question.
HMRC has published the following:
Privacy application by celebrity
Principal private residence relief and period of ownership
Negligible value claim by personal representatives