With the EU audit reforms set to come in over the next year or two, these will have a significant impact on the market for tax compliance and advisory services, especially in the financial sector, writes Peter Carville
Tom Scott considers the topical issue of whether or not the UK can now be considered a tax haven, and the global tax legislative changes we can expect to see
BKL Tax reports on the case of Gardiner, involving tax avoidance and negligence
HMRC has doubled its use of private sector bailiffs and debt collection agencies over the last two years as it takes more aggressive action to chase overdue tax, says national accountancy group UHY Hacker Young.
The scheme involved ‘gifting’ gilts to a charity subject to option and security arrangements which ensured that 99% of the gilts would be passed on to a trust set up for the benefit of Mr Ferguson and his family.
According to a recent study In the shade: Research on the UK’s missing economy, published by Richard Murphy of Tax Research UK, the Treasury is losing more than £40bn of tax a year because of evasion and the hidden economy, which is nearly four times official estimates.
HMRC has published guidance on the way interest is calculated, since 19 May 2014, when PAYE payments are made late.
On 13 May, a Public Bill Committee agreed four amendments to Sch 8 (venture capital trusts). These amendments clarify that the changes to prevent recycling of VCT relief through returns of share capital to investors apply only to payments out of share capital raised on or after 6 April 2014.
Implementation of tax scheme not negligent
Income tax scheme failed