Arrests made in HMRC’s clampdown on offshore bank accounts
Last December, two British citizens were arrested on suspicion of hiding money in Swiss bank accounts to evade paying UK taxes.
hmrc
Should large companies pay their full tax liability?
The National Audit Office is to investigate the way tax inspectors from HMRC reach settlements with multinational companies after Vodafone’s £1.2 billion settlement caused uproar.
ARC warns government not to reduce HMRC budget further
Union officials have warned that cuts to HMRC’s budget will lead to an increase in tax evasion and widen the gap between the revenue recovered and the amount actually due.
HMRC crack down on unscrupulous umbrella companies
Amendments to the National Minimum Wage Regulations came into force on the 1st of January this year and umbrella company contractors should be aware of their implications.
Income splitting to be investigated by OTS
The Office of Tax Simplification is to look into the issues surrounding family businesses that split their income in a bid to avoid paying taxes.
Don’t let the cold freeze SMEs out of business says the FSB
The FSB is calling on the coalition and the banks to give small businesses a bit of breathing space so that they can stay afloat over the festive season.
Umbrella company contractors owed money from Albany have longer to wait
Umbrella company contractors have put in claims for around half a million pounds worth of unpaid invoices following the collapse of Albany at the beginning of 2010.
HMRC increases revenue from tax evasion cases
A new report from the National Audit Office says that HMRC raised £8.5bn from its investigations into cases of serious tax evasion.
Finance Bill 2011 tackles disguised remuneration
Employee benefit trusts and employment finance retirement benefits schemes are the latest to be targeted in proposed Treasury regulations.
Overseas tax havens may not be as safe as tax evaders hope
Umbrella company contractors and other freelance workers have been warned to be cautious of schemes that claim to be HMRC approved, when really they are referring to the reference number allocated to a scheme.
Will real-time PAYE information benefit umbrella company contractors?
HMRC has launched a consultation asking for opinions on the introduction of real-time information into the PAYE taxation system.
Are we going to see an HMRC tax amnesty for contractors?
How is the Revenue going to survive the spending cuts? Some advisers have suggested that it might roll out more amnesties in the hope of increasing cost efficiency.
HMRC launch PAYE consultation
HMRC have launched a new consultation that could result in major changes on the horizon for PAYE. The PAYE business processes were introduced in 1944 and have not changed in the following 66 years.
Contractors must make sure their tax affairs are in order
HMRC is likely to become more vigilant when it comes to scrutinising the tax affairs of umbrella company contractors, freelancers and entrepreneurs.
Is a centralised tax system a viable option in the UK?
Employers may be relieved to pass over employee tax calculations to HMRC but experts are not convinced that a centralised tax system will work efficiently in the UK.
HMRC says it will continue to chase tax underpayment cases
The BBC was recently told by HMRC whistleblowers that the Revenue has been instructed not to chase a lot of underpayment cases that are over two years old and which could be open to a legal challenge; a claim that has been strongly denied by an HMRC spokesman.