Tax Compliance

Latest news

| Business insolvency rates fall in Q3 but tax bills increase risk

Corporate and personal insolvencies declined in the third quarter of this year, with company liquidations and administrations down sharply, although there are warnings that some businesses could be forced into administration because of unexpected tax bills from HMRC following the increasing use of accelerated payment notices (APNs)

30 Oct 2014

Accountancy Firms

Restructuring & Insolvency

Tax | UK signs up to new agreement to tackle tax evasion

The UK is among 51 countries and jurisdictions to sign a new multilateral authority agreement to tackle tax evasion during a meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Berlin today.

29 Oct 2014

International Tax

Image for dodwell tax simplification plan shows signs drifting

Tax | Dodwell: tax simplification plan shows signs of drifting

The latest plans for simplify the tax regime include some positive moves including talk of reviewing the rules for the basic corporation tax/income tax computation but there are still major bugbears such as the troubled RTI introduction, says Bill Dodwell, head of tax policy at Deloitte

29 Oct 2014

Tax | HMRC simplifies online reporting for micro entities

HMRC and Companies House are making improvements to the online filing process for micro-entity companies following an EU Directive to reduce red tape for business

29 Oct 2014

Image for scottish tax devolution will lead complexity and avoidance treasury warned

Tax | Scottish tax devolution will lead to complexity and avoidance, Treasury warned

Devolving Scottish taxes will create more complexity for taxpayers and employers, and could lead to greater levels of tax avoidance, according to leading tax experts, who appeared before the House of Commons’ Treasury Committee on 28 October

28 Oct 2014

Accountancy Firms

Tax | Timber supplier disqualified for accounting records failings

The boss of a timber company has been disqualified as a company director for eight years after an Insolvency Service investigation found he had failed to keep proper accounting records or pay the correct amount of tax owed for over five years

28 Oct 2014

Tax | Low levels of customer satisfaction blight HMRC

HMRC is struggling to improve the way in which it communicates with taxpayers and agents, who report lower levels of satisfaction with the way in which they are treated by the tax authorities, according to the tax authority's annual report into a range of customer service issues

27 Oct 2014

Tax | Dolce & Gabbana designers cleared of tax evasion

Fashion designers Domenico Dolce and Stefano Gabbana have been cleared of tax evasion following a successful appeal to Italy’s top court, and will no longer face the possibility of jail sentences

27 Oct 2014

Image for ir35 business entity tests be withdrawn april 2015

Tax | IR35 business entity tests to be withdrawn from April 2015

Following criticism that business entity tests (BETs) for IR35 reporters are not fit for purpose, HMRC is to withdraw the tests from April 2015 only two years after they were introduced to make it easier for individuals to work out their risk of being investigated under IR35 legislation

27 Oct 2014

Tax | OECD forum strengthens tax avoidance commitments

The heads of tax administrations from 38 countries have published details of their agreements to work more closely together and streamline the processes for the automatic exchange of tax information, to support the OECD’s Base Erosion and Profit Shifting (BEPS) project

27 Oct 2014

Tax | Additional tax take from UK’s richest hits £1bn mark

HMRC has announced that its specialist unit handling the tax affairs of the UK’s richest people posted a 20% increase in the additional revenues it brought in last year, bringing the total extra tax collected since its formation in 2009 to over £1bn

22 Oct 2014

Tax | HMRC claims accelerated payment notices will collect disputed tax

The first batch of HMRC letters have been sent out under accelerated payment notices (APNs) to chase up disputed tax flagged as unpaid under non-compliant tax avoidance schemes

21 Oct 2014

Image for bankrupt barrister jailed three years tax fraud

| Bankrupt barrister jailed for three years for tax fraud

A bankrupt Oxfordshire barrister, who failed to declare his earnings or pay income tax, national insurance and VAT, has been jailed for three years after pleading guilty to a £274,000 tax fraud following an HMRC investigation

21 Oct 2014

Called to Account

Tax | HMRC issues warning over 75,000 fake tax refund emails

HMRC is warning taxpayers to be on their guard against fraudulent phishing emails, after receiving reports of almost 75,000 fake emails between April and September 2014 – a 70% increase on the same period in 2013

20 Oct 2014

Tax | Design Museum secures free entry after VAT deal

The Design Museum in London has become the latest cultural attraction to offer free entrance to its collections, after Chancellor George Osborne announced it has been joined the government’s VAT refund scheme, allowing it to reclaim the taxes paid on refurbishing new premises

20 Oct 2014

Tax | HMRC raises £131m from construction company tax probes

HMRC’s yield from tax investigations into the construction sector rose by 7% to reach a record £131m last year and collected revenue has almost doubled over the last four financial years, according to research by NoPalaver group, a provider of accounting services to contractors

20 Oct 2014

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