Weekly tax brief - 20 October 2016

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments


Latest tax gap figures usher in new attack on tax evasion and tax crime

20 October 2016

HMRC’s latest figures show the UK tax gap continuing at around £36bn. But that’s only part of the story. As a percentage of tax yield, the tax gap has dropped by the equivalent of £11bn over 10 years. More significantly perhaps, the newly reorganised HMRC is promising an unprecedented new attack on tax evasion and tax crime.

UK tax changes require tough life decisions for non-doms

20 October 2016

Non-UK domiciled (non-dom) individuals continue to suffer political scrutiny on the tax treatment they receive, and the resultant tax they pay in the UK. But with a continually shifting landscape and imminent changes afoot, is tax for non-doms becoming too taxing?

Managing the hidden risk of VAT

20 October 2016

VAT is often considered a remote risk for businesses. However, a recent tribunal case highlights the real reputational and financial risk that inaccurate accounting processes can cause. With increasing scrutiny on corporate taxes in the UK and globally - could we see more businesses slipping up?