HMRC has won a case involving a ‘complex and organised VAT fraud’ committed by film producer Richard Driscoll, who wrote and directed the first modern British film to be shot in 3D, Eldorado.
The Isle of Man, Jersey and Guernsey have all confirmed that they will join the Multilateral Convention on Mutual Tax Assistance.
A ‘backstop’ to existing anti-avoidance rules is considered by Mark Joscelyne and Mark Spinney
Patrick Cannon reflects on the judgment in Hossein Mehjoo v Harben Barker
Punam Birly explains the latest move to tackle avoidance of income tax and NICs
HMRC has issued on its website revised guidance notes, draft regulations, and a Tax Information and Impact Note (TIIN) on the Foreign Accounts Tax Compliance Act (FATCA). The updated guidance notes outline when a trust can be defined as an ‘investment entity’ or not under the new rules.
HMRC has published on its website details of progress made on the joint initiative with agents to improve the department’s service delivery standards.
Surcharges—reasonable excuse
Penalty imposed at 50%
VAT: amount of penalty