The ‘tax gap’ increased to £42 billion in 2008/09, according to HMRC’s latest estimate.
The Autumn Finance Bill will be published on 30 September, the Treasury announced.
Tax credits claimants who wish to authorise a tax adviser to deal with HMRC must complete a separate form 64-8, HMRC said, if the authority was not specified on ‘the original form 64-8’.
The Liberal Democrats are considering plans to require accountants and lawyers undertaking government work to prove that their tax arrangements are ‘in order’, according to The Times.
Taxand appointed Richard Baxter, a Managing Director with Alvarez & Marsal Taxand UK LLP, as the new leader of its Global Indirect Tax Service Line. Prior to joining Taxand, Baxter led the Indirect Tax Compliance and Risk practice of Deloitte.
The ICAEW Tax Faculty has warned that compliance and information obligations arising under revised proposals for the restriction of pensions tax relief are ‘likely to make many more employers, at least in the private sector, consider closing their defined benefit schemes to future contributions,
HMRC has updated a table setting out what information it will accept over the telephone, after it announced that it would accept telephone claims for remission of tax under extra-statutory concession A19. See www.lexisurl.com/Ql8d7.
A new Syndicated Loan Scheme (SLS) replaced the Provisional Treaty Relief Scheme (PTRS) in its entirety from 1 September, HMRC said.
The Chancellor has told MPs that they will be ‘pretty staggered’ by new, independent estimates of the tax gap.
The Government was asked whether it would provide ‘the same level of funding for advertising to highlight tax evasion as is spent on highlighting benefit fraud’.