Default surcharge and late repayment by HMRC
Awareness of the penalty regime and reasonable excuse
Stephen Pevsner and Laura Charkin (King & Wood Mallesons) consider the new rules for fund managers
Nigel Doran (Macfarlanes) examines the new anti-avoidance rule
HMRC has updated its published list of former Inland Revenue extra-statutory concessions (Notice IR1) to reflect the status at 6 April 2015. Changes since the last update (January 2014) include the removal of:
Failure of a capital loss scheme
The director of the OECD’s centre for tax policy and administration, Pascal Saint-Amans, has talked of being ‘embarrassed’ over the UK’s diverted profits tax legislation (DPT).
HMRC figures show that it is getting tougher on those filing incorrect tax returns, putting greater numbers of people at risk of being named and shamed, says Baker Tilly.
The first prosecution resulting from the HSBC Suisse document leaks took place on Monday, when the French courts found Arlette Ricci, inheritor of the fortune from the Nina Ricci perfumes and fashion business, guilty of tax evasion.
The Chartered Institute of Taxation is running an online survey, closing Tuesday 5 May 2015, for those with experience of taking an appeal to the First-tier Tribunal.