The National Audit Office is to ‘examine the reasonableness’ of some of the larger tax settlements reached by HMRC and report in confidence to MPs.
HMRC’s new Offshore Co-ordination Unit is to write to UK residents and organisations holding bank accounts with HSBC in Geneva who may have undisclosed tax liabilties.
The United Kingdom would ‘easily’ take Switzerland’s place at number one in the Financial Secrecy Index if the ‘British network of secrecy jurisdictions’ were considered, according to an influential campaign group.
Chris Morgan considers recent changes in the international tax arena, including UK developments, recent proposals for a financial transactions tax, and the Dutch 2012 Tax Plan
HMRC’s top tax official told MPs yesterday that he was very sorry that HMRC made a ‘mistake’ resulting in no interest being charged on national insurance contributions payable by Goldman Sachs following the failure of an avoidance scheme.
HMRC’s head of tax was set to face questions from MPs today over a settlement with Goldman Sachs in which the bank was ‘forgiven’ interest of £10m on a failed tax avoidance scheme, according to reports in Private Eye and today’s Guardian.
UHY Hacker Young announced the appointment of Gary Shortman, previously a Tax Director at BDO, as a Partner.
The Taxes and Duties, etc (Interest Rate) Regulations, SI 2011/2446, set out the interest rate setting formulae for late payment interest and for repayment interest.
HMRC has launched a campaign to target private tutors and coaches who have failed to declare their income.