Tax Compliance

Tax | Corporation tax receipts and liabilities on downward trend

The tax take from corporation tax is down 2% year on year to £39.5bn and has still not returned to pre-crash levels, according to the latest statistics published by HMRC

29 Aug 2014

Business Tax

Tax | COP 8 guidance on fraud and tax avoidance investigations updated

HMRC has updated the Code of Practice 8 (COP8) guidance which explains how the Fraud and Bespoke Avoidance section of the Specialist Investigations directorate of HMRC carries out investigations

29 Aug 2014

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Tax | Goodwill valuations – what to consider post Wildin tax case

After the ruling in the Wildin case, Peter Rayney says the value of goodwill must be commercially sustainable. Over the last decade or so, many tax advisers and accountants have had to dust down their goodwill valuation texts

29 Aug 2014

Tax | Seychelles signs up to tax exchange agreement

The Seychelles has become the 46th jurisdiction committed to automatically exchanging tax information to improve transparency over offshore tax accounts held in the islands

28 Aug 2014

Tax | British Film Institute beats HMRC in £1.2m overpaid VAT case

The British Film Institute (BFI) has beaten the taxman at an appeal at the Upper Tribunal (UT) concerning a disputed £1.2m bill for over-paid VAT charges for the sale of cinema tickets

28 Aug 2014

Tax | Editor’s comment: criminalising offshore tax evasion

The threat of a criminal offence for offshore tax evasion raises the stakes for anyone not taking advantage of one of the many HMRC settlement disclosures on offer, says Sara White

28 Aug 2014

Tax | In my view: the expert witness in Wildin goodwill case

The expert witness can play a pivotal role in complex tax cases as Derek Smith, senior consultant at Foulger Underwood, discovered when he was called up at the recent Wildin case

28 Aug 2014

Tax | Offshore gambling operators need UK fiscal representative

The introduction of new tax rules for non-UK gambling operators later this year means that offshore companies will have to apply for HMRC approval of a fiscal or administrative UK representative as part of the Gambling Tax Reform registration process.

27 Aug 2014

Tax | Avoid falling foul of PAYE penalties, warns HMRC

HMRC has published guidance for employers about PAYE late payment penalties and how to avoid them

27 Aug 2014

Employment Tax

Tax | Self-certifying tax compliance working for public contracts, claims Cabinet Office

Only one company failed to meet the mandatory test criteria to tender for government procurement contracts over the past year and this was not for tax transparency reasons, according to the first HMRC/Cabinet Office report into tax and procurement.

27 Aug 2014

Business Tax

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Tax | Offshore criminal offence: will it stop tax evaders?

HMRC gets out the handcuffs for offshore tax evaders but will they have much impact, asks Ronnie Ludwig, partner at Saffery Champness, who warns that tax advisers need to keep up to speed with potential risks

27 Aug 2014

Tax | HMRC brings back five ‘most wanted’ tax fugitives

HMRC has announced that five of the UK’s top tax fugitives, responsible for £844m of lost tax, have been brought back to the UK to face justice following a global initiative to track down offenders who have absconded abroad before or during their trial

27 Aug 2014

Tax | HMRC to withdraw 0845 helpline numbers

HMRC has announced that it will be closing the 0845 helpline numbers from December 2014 and all calls thereafter will need to be made using 03 numbers

26 Aug 2014