The Finance Bill completed its second reading in the House of Commons last night, after almost five hours of debate.
HMRC have offered employers who have used employee benefit trusts and similar arrangements, designed to defer or avoid tax and NICs, an ‘opportunity’ to settle tax liabilities in an initiative that one professional body has described as ‘messy’.
Sue Walton, head of HMRC's anti-avoidance group, explains how HMRC aim to minimise the need for intervention to ensure compliance
Tony Spillett sets out a ten-point plan to establish and maintain a good working relationship with HMRC
Many recent cases in the UK on tax avoidance schemes have contained the following citation from the judgment of Ribeiro PJ in the Hong Kong Final Court of Appeal in the case of Collector of Stamp Revenue v Arrowtown Assets Ltd (2004 ITLR 454):
HMRC applying for costs against third party
Company submitting unsigned accounts
Helen Lethaby reviews the last month's developments in tax, including key measures in the Finance Bill, the new approach to tackling tax avoidance, and recent case law
‘HMRC is under fire from tax advisers for starting trials on a new clampdown on bad record keeping by SMEs without telling them. Around 1,200 SMEs are being initially targeted in a programme aimed at checking the records of 200,000 of them over the next four years …