HMRC accused of recruiting a child tax army August 16, 2012 OFFICIALLY, the aim of the HM Revenue and Customs “tax matters” campaign is to make children grow into better citizens, teaching them the basics of the tax system and the purpose behind it, as well as a greater sense of civic responsibility. It even covers the basics of how to pay tax and national insurance [...]
What the other papers say this morning August 15, 2012 FINANCIAL TIMES Barrick Gold explores Africa sale Canadian miner Barrick Gold has been exploring a sale of its 74 per cent stake in African Barrick, the London-listed gold producer, in a move that could prompt a full takeover. Barrick has been working with UBS to consider its options for African Barrick, which the Canadian miner, [...]
The new top brass at HM’s Revenue has a taxing task August 15, 2012 THE top rank of HMRC is changing. Edward Troup has taken up his new post as tax assurance commissioner, responsible for advising Treasury ministers on shaping UK tax policy. He has considerable tax experience, both in the public and private sectors. But the job has never been more challenging. The UK faces pressure to improve [...]
Informants on tax earn £1m July 30, 2012 MORE than £1m has been paid out in rewards for informing on tax evasion in the UK since the financial crisis began in 2008. Payments from HM Revenue & Customs (HMRC) to informants rose by more than a fifth to £374,000 in 2011-12, compared with the previous financial year, figures released to the investigative website [...]
HSBC is facing new questions on tax evasion July 30, 2012 HSBC yesterday faced further questions about its compliance procedures following allegations that British customers of its Swiss private bank may have evaded at least £200m of tax. HM Revenue & Customs (HMRC) is investigating account holders at HSBC Private Banking Holdings (Suisse) and has secured one conviction for tax evasion. But the Bureau of Investigative [...]
QC accused in VAT fraud case July 26, 2012 A SENIOR London barrister was yesterday accused of failing to pay £600,000 in tax. The Crown Prosecution Service (CPS) is prosecuting Rohan Pershad QC, of 39 Essex Street chambers, for unpaid VAT between 1 June 1999 and 24 September 2011 – taxes charged on services he provided as a barrister. Pershad, who was only made a [...]
Q and A July 26, 2012 DIRECTOR, DOUGLAS AND GORDON Q I’ve had my property on since March and, after the Budget, knocked £350,000 off the price to get under the £2m SDLT bracket. I’ve still not sold. What are my options, given I can’t afford to go lower? A No comfort here but many sellers are in the same situation. [...]
Tax and morality: Complicated laws make gaming the system inevitable July 23, 2012 I RECENTLY spent a family holiday in a static caravan in northern France. As we sat outside with a glass of wine, my wife and I wondered why the caravan had wheels – it seemed unlikely that they would need to be moved, and I doubted they would carry its weight. Perhaps it has something [...]
Auditors blame overwork for HMRC’s £5.2bn tax write-offs June 28, 2012 THE BRITISH taxman wrote off £5.2bn last year and made billions more in errors as it was overwhelmed by its growing workload, the National Audit Office said yesterday. The audit unearthed a “large increase” in the amount of tax liabilities that HM Revenue and Customs decided not to pursue over the last two years. Around [...]
40,000 HMRC workers strike over job cuts June 25, 2012 MORE than 40,000 employees at HM Revenue & Customs (HMRC) went on strike yesterday, in a dispute over job cuts that has become embroiled in the row over high-profile individuals avoiding tax. The Public and Commercial Services Union (PCS) claimed that more than three quarters of its HMRC members walked out in protest at plans to [...]