Inheritance tax to be targeted in HMRC crackdown August 10, 2014 Her Majesty's Revenue and Customs (HMRC) is getting ready to crack down on voidance schemes targetting inheritance tax. As it becomes more difficult to plan for other types of tax, the HMRC is looking to make sure that substantial amounts of taxable inheritance aren't slipping through the cracks. The rules regarding the disclosure of inheritance [...]
HMRC denies new pay up front powers will cause bankruptcies July 2, 2014 HMRC yesterday dismissed claims that its proposed new powers to force firms and individuals to pay up front any disputed tax associated with a “tax avoidance” scheme will spark a rash of insolvencies. Accountancy firms have claimed that as many as 10,000 businesses could be affected by the accelerated payment notices, which are part of [...]
HMRC not doing enough to tax big businesses December 18, 2013 THE PUBLIC accounts committee has accused HM Revenue and Customs of failing to pursue big businesses for tax payments, resulting in a £35bn tax gap between what is expected to be collected and what actually comes in to government coffers. Chair of the committee Margaret Hodge MP highlighted further flaws in the way this figure is [...]
Hargreaves Lansdown’s HMRC tax showdown September 9, 2013 FTSE 100 fund platform Hargreaves Lansdown laid down the gauntlet to tax collectors yesterday after launching a legal challenge on the taxation of fund cash back rebates. The Bristol-based firm, currently one of the country’s best performing companies, said it will challenge a discount tax introduced by HMRC on payments made to its customers. [...]