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HMRC’s clock is ticking for collecting offshore liabilities

30 March 2021

HMRC has issued a further tranche of offshore nudge letters this month, once again stating that it has information which shows the taxpayer may have received overseas income or gains which have not been subject to UK tax. The letters do not always detail the information HMRC has, but normally a brief telephone call to the helpline can shine a light on the data held.

HMRC's investment in fighting fraud and error
Sarah Saunders

09 March 2021

The Budget contains measures to give more funds to help HMRC improve its technology and fight fraud. Predictions suggest the investment should more than pay for itself.

Is HMRC being mean-spirited regarding the loan charge?

02 February 2021

The House of Lords inquiry into HMRC’s progress in implementing Sir Amyas Morse’s loan charge review concluded that, 12 months on, HMRC has come up short in a number of areas.

HMRC dangles the carrot to settle tax avoidance arrangements

26 January 2021

In recent months HMRC has issued sporadic letters to taxpayers who have participated in tax avoidance arrangements, inviting them to come forward and settle their affairs. But is there a real incentive?

HMRC confirms waiver of £100 late filing penalty for self-assessment tax returns

26 January 2021

HMRC confirmed on 25 January 2021 that it would waive the late filing penalty of £100 for self-assessment tax returns which are submitted following the 31 January deadline, so long as they are no more than one month late.

HMRC issues record money-laundering fine

12 January 2021

HMRC issued a record £23.8m money laundering fine to MT Global - a money transfer company. This single penalty alone is more than double the £9.1m penalties HMRC issued in total for breaches in the previous year.

HMRC calls upon allies in the fight against tax avoidance

01 December 2020

For many years HMRC has been cracking down on tax avoiders. With taxpayers already facing significant tax bills for taking part in tax avoidance schemes, HMRC calls upon allies to help turn the focus to promoters, who are misleadingly luring in the public.

Are you guilty as charged without even knowing it?
Andrew Walker

17 October 2020

Following HMRC’s recent statistics on investigations relating to the corporate criminal offence (CCO), we discuss the potential affects for unsuspecting organisations.

Businesses must take corporate tax crime more seriously, or risk criminal conviction and an unlimited fine

29 September 2020

The Corporate Criminal Offence (CCO) was introduced by the Criminal Finances Act in 2017 and places an obligation on companies and partnerships to prevent people associated with them, typically employees but including anyone acting on the entity’s behalf, from facilitating a third party’s tax evasion. The first a company or partnership may know of a CCO investigation is when HMRC arrives at the door with an arrest warrant for the suspected facilitator.

30 September is the deadline for reporting and paying the loan charge

22 September 2020

30 September is the deadline for settling disguised remuneration tax planning arrangements with HMRC. This is the date to complete the contract process, and agree payment terms, to benefit from the November 2017 settlement terms and avoid the need to report the loan charge.

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