Richard Carson reviews the new draft anti-avoidance regime for plant and machinery allowances and discovers that taxpayer concerns expressed during consultation are not entirely allayed.
The judgment of HMRC officials and the City of London Police was questioned and Harry Redknapp’s barrister was reported to be demanding an investigation after the Tottenham manager and Milan Mandaric, the former Portsmouth chairman, were acquitted of cheating the public revenue.
‘The Tottenham Hotspur manager Harry Redknapp and Milan Mandaric, the owner of Sheffield Wednesday, have been cleared of evading tax on payments totalling £189,000 that were made by Mandaric into Redknapp's offshore bank account while the two men were at Portsmouth football club.
The Chief Executive Officer of the Student Loans Company at the centre of controversy over his tax arrangements was advised to account for tax and national insurance contributions under special rules introduced to counter tax avoidance via personal service companies.
HMRC published an updated list of its statements of practice, including changes to SP1/10 (Business by telephone), new SP1/12 (Advance thin capitalisation agreements) and new SP2/12 (Inward investment support).
The Liechtenstein Disclosure Facility will be extended by a year to 5 April 2016, HMRC announced. More than 2,000 disclosures have been made so far.