26 January 2016
Sunday’s self-assessment deadline is fast approaching, and taxpayers need to get a move on if they haven’t already filed their return. But be warned, if you’re rushing to meet the deadline then you’re more likely to make mistakes – and that could prove to be very costly…
25 January 2016
With HMRC’s increasing focus on non-compliance, alternative dispute resolution (ADR) offers a confidential and time-efficient way to resolve a tax dispute, including those involving overseas issues.
19 January 2016
A fundamental principle of the tax system is that taxpayers are entitled to certainty over finality in their annual tax affairs. Legally, HMRC has a strict time limit, known as the ‘enquiry window’ to raise questions about a submitted tax return. That time limit is 12 months from the date the return is received by HMRC. However, we are now seeing examples of HMRC indulging in what appears to be a backdoor attempt to extend the legal time limit beyond that set out by Parliament – a very concerning development which could leave taxpayers at the mercy of HMRC without adequate safeguards.
22 December 2015
Recent press comment suggests that 25% of tax prosecution cases involve tax lost of just £10,000.
09 December 2015
New figures show that the number of personal and small business tax disputes accepted for Alternative Dispute Resolution (ADR) has risen by over 70 per cent in the last year.
08 December 2015
The results of the HMRC element of the Civil Service People Survey 2015 were announced last week. Over 42,000 employees took part in the survey, some 65 per cent of the workforce.
01 December 2015
With the registration for the Liechtenstein Disclosure Facility closing on 31 December, a new ‘tougher’ offshore disclosure facility will take its place, giving tax evaders a ‘last chance’ opportunity to come clean.
25 November 2015
No surprises as the Chancellor allocates an additional £800m to crack down on offshore tax evasion ad general non-compliance.
16 November 2015
RSM is warning individuals that have tax irregularities that time is running out to come clean to the taxman as the popular Liechtenstein Disclosure Facility (LDF) finally closes on 31 December 2015.
20 October 2015
Last week’s Supreme Court ruling that two women should receive more money after they claimed they were misled by their ex-husbands about the extent of their wealth has put the spotlight on the issue of financial disclosure in divorce cases. It’s not unknown for former spouses to spill the beans to HMRC about the extent of an ex-partner’s financial assets – a move that can have serious implications for tax liabilities.