It is often amazing what complex transactions people are prepared to carry out to avoid tax. Some of the tax avoidance schemes out there boggle the mind. Sometimes, however, the action taken to avoid tax is simple, but the implications of the action are much more personal.
The UK tax landscape continues to fragment as tax devolution takes hold. The focus has been on Scotland, and we’ve discussed this at length in Tax Brief, but what about the key tax changes in Wales?
Buoyed by the success of the recent public sector IR35 reforms, HMRC has turned its attention to the private sector with controversial proposals for reforming the tax rules for those working for private sector businesses through intermediaries such as personal service companies (PSCs). Change seems inevitable and businesses should not underestimate the time that would be needed to get ready for the change as and when it comes.
Businesses perceive tax avoidance to be more common than tax evasion, but that’s not what the evidence shows; so, are businesses just believing the increasing rhetoric from HMRC about avoidance? And will this impact views on the prevalence of evasion?
We focus on why it is important for managers to have a better understanding of mental health and how they can support employees.
We've previously reported on the shock lapse in the EU state aid approval for EMI schemes. It now seems that the recent changes to the enterprise investment scheme and venture capital trusts, which were extremely welcome to knowledge-intensive companies, are also being held up while the UK waits for state aid approval.
If you under-declare your tax liability, you can face an HMRC investigation, a demand for payment of the tax due plus interest, and perhaps a penalty. But what happens if in error you overstate your liability? It’s more common that you might expect but putting it right can be a huge headache.
It's an old question, but who investigates the investigators? In the case of HMRC, it's the Treasury Sub-Committee of the House of Commons. With many tribunal decisions going against HMRC, and a growing concern that the way in which HMRC uses its powers may appear disproportionate and heavy-handed, the committee has decided to examine HMRC's approach to conducting tax enquiries, resolving tax disputes and determining the amount of tax to be paid.
According to the Mental Health Foundation, two thirds of us will experience a mental health problem. As part of Mental Health Awareness week, we explore why it is important for employers to invest in mental health initiatives.