The CIOT and ATT have issued a note for their members giving practical guidance for advising clients on the requirement to correct offshore tax non-compliance by 30 September.
The note is arranged under broad headings which cover:
The Financial Secretary to the Treasury, Mel Stride, has defended the government’s use of the less rigorous ‘negative’ procedure for making secondary legislation in relation to the Taxation (Cross-border Trade) Bill.
HMRC has updated the specimen SAYE prospectus with effect from 1 September 2018 to confirm that employees can delay the payment of monthly contributions on a maximum of 12 occasions over the lifespan of the savings contract.
HMRC’s large business directorate opened investigations for possible ‘serious’ tax evasion into 27 of the UK’s top 2,100 businesses in 2017/18, according to figures obtained by Pinsent Masons.
Informants made more than 40,000 calls to HMRC’s fraud hotline in 2017/18, for which HMRC made payments amounting to £343,500, according the Financial Times.
HMRC has published the following:
Ignorance of the law and reasonable excuse
Part writing off of a loan
Were the appellants trading in derivatives?
Principal residence relief and building works