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Taskforces
The latest HMRC taskforces will target individuals and businesses in the south and southeast with offshore accounts and with lifestyles beyond their obvious means through assets from undeclared income; taxpayers in the northeast who try to reclaim VAT fraudulently; and road transport industry in the south and southeast.
Taskforces
The latest HMRC taskforces will target individuals and businesses in the south and southeast with offshore accounts and with lifestyles beyond their obvious means through assets from undeclared income; taxpayers in the northeast who try to reclaim VAT fraudulently; and road transport industry in the south and southeast.
Fixed protection
Taxpayers can apply for fixed protection 2014 online or by completing, printing and posting form APSS228 (HMRC have resolved the problems with this form). More information can be found on HMRC’s website.
Gibraltar
The UK has published an intergovernmental agreement to improve international tax compliance that was signed with Gibraltar on 21 November 2013.
Offshore funds
HMRC’s reporting offshore funds list has been updated to include the funds that have entered the reporting fund regime as at 11 November 2013.
NHS trusts
Guidance for NHS trusts on formulating VAT recovery methods has been published by HMRC. The framework is not mandatory and does not replace the content of VAT Notice 706 (Partial Exemption), but adopting its principles will help HMRC give approval for a VAT recovery method for which a statutory declaration has been made.
Isle of Man
The Isle of Man is the first British Crown Dependency to join the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement providing for tax cooperation between its signatories.
