How can HMRC accurately measure the ‘tax gap’?
Umbrella contractors might be interested to learn that leading accounting bodies are calling into question the ‘tax gap’.
Fraudsters to be offered disclosure facility
HMRC is to offer a disclosure facility to taxpayers, including umbrella company contractors, it suspects of fraud.
Is Big Brother watching over your trading activities?
Umbrella company contractors may want to ensure that they are not living beyond their declared means after HMRC announces it is going to get tough on tax evaders.
HMRC increases its efforts to curb international tax evasion
HMRC is continuing its quest to catch umbrella company contractors with undeclared earnings in offshore savings accounts and this could spell bad news for hundreds of thousands of British residents.
The coalition’s “monster” will cause problems for employers
Employers could have problems getting to grips with the new overly complex regulations regarding employees’ tax avoidance schemes that have been detailed in the Finance Bill, according to tax advisers.
Countdown to stronger fines make it a good time to find a reputable umbrella company
Contractors might be interested to learn that HMRC is going to impose penalties of up to 200% on individuals found guilty of tax and capital gains evasion.
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.
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 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.
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 HMRC clampdown affect umbrella companies?
A fivefold increase in prosecutions against tax evaders could see HMRC bringing 800 people a year to court. In the year to September 30 2009, the Revenue brought 157 prosecutions against individuals.
HMRC questions offshore account holders
Last week HMRC sent out letters to some of the taxpayers who had taken up the Offshore Disclosure Facility to ask them for their insights.
