Search Results for: HMRC
Financial crisis a reason for late tax payment
September 18th, 2014
Sometimes bad economic news can be good news for taxpayers. A judge has ruled that the recession was a reasonable excuse for a family business to not pay a VAT bill on time. Scrimsign Micro Electronics, which makes electronic ...
Scottish tax: Can meltdown be avoided?
September 12th, 2014
When Scottish electors cast their votes in the independence referendum on 18 September, a ‘no’ outcome would result in greater devolution of tax powers to Holyrood. By contrast, a ‘yes’ result in support of independence would create the need ...
Accountants warn against eBay tax evasion
September 8th, 2014
Accountancy firm Baker Tilly has warned people trading on eBay about tax evasion after a man was jailed for two years for failing to declare income from online sales. John Woolfenden was convicted at Bolton Crown Court after he ...
Video game tax relief comes into force
August 26th, 2014
British companies developing video games will be able to claim tax relief of up to 25% on their production costs from this week. The video game tax relief legislation, which came into force officially on 1 April 2014 can ...
Scotland to impose its own tax authority
August 22nd, 2014
Edinburgh took a step closer to operating its own version of HMRC this week, after the Scottish parliament passed the Revenue Scotland and Tax Powers Bill. The chair of the Chartered Institute of Taxation’s (CIOT) Scottish technical subcommittee, Moira ...
Keeping the accountants accountable
August 22nd, 2014
Tax avoidance is always a hot topic, never more so than with the recent stream of famous individuals involved in the Liberty scheme. The fact that some of these 1,600 stars risk bankruptcy highlights just how serious these cases ...
New criminal offence proposed to catch tax evaders
August 19th, 2014
People who fail to declare offshore tax liabilities could face prosecution under proposed new laws published for consultation today. HM Revenue & Customs has urged wealthy individuals to come forward and pay what they owe in advance of the ...
Restriction of Liechtenstein route for tax disclosure
August 18th, 2014
The UK Government has acted to restrict the situations where taxpayers can use a government agreement with Liechtenstein to get a more generous settlement from HMRC. A joint decision between HMRC and the Government of Liechtenstein has resulted in ...
New non-dom tax rules will cause confusion
August 14th, 2014
New tax rules for loans taken out by “non-doms” will cause disputes over the interpretation of the law, the Chartered Institute of Taxation (CIOT) has said. The government said on 4 August that it was withdrawing its current treatment ...
Greene King takes tax battle to Court of Appeal
August 13th, 2014
Greene King has confirmed it will take its long-running fight with HMRC over a £21m tax planning scheme, known as Project Sussex, to the Court of Appeal. In its latest annual report, the brewery and pub group revealed plans ...
