MP Hodge attacked over report on tax breaks
W Ferguson (TC3562)
Half-term report on two offshore initiatives
Make sure HMRC’s search warrants are precise and intelligible
R, A and M Gardiner (TC3550)
The European Commission (EC) has opened investigations into whether decisions about corporation tax to be paid by Apple, Starbucks and Fiat complied with European Union (EU) rules on state aid.
The commission has been examining tax practices in several member states, following media reports alleging that some big businesses received significant reductions by way of rulings issued by national tax authorities. Decisions can involve state aid if they provide selective advantages to a specific company or group of companies.
What transpired in the third and fourth Finance Bill sittings
The Lords’ conclusions on personal service companies
HMRC’s clampdown on tax dodging marked a new high during 2013/14, official statistics show.
An parallelled £23.9bn – raised in addition to revenue collected from compliant taxpayers – was £3.2bn more than in the previous 12 months, and almost £1bn above the target set at last year’s autumn statement.
Director A owns 16% of the shares of a trading company. The fortunes of the company have declined and she intends to resign and to gift shares to the other shareholders and directors. Director A would like to hold over any chargeable gain
HMRC have sent letters intended to discourage taxpayers’ use of avoidance measures.
The taxman wrote to those whose names appeared on client lists of schemes for the period October 2013 to December 2013, the contact details having been provided by promoters as part of DOTAS requirements.
The US tax authority, the Internal Revenue Service (IRS), has announced a relaxation of enforcement and administration of the due diligence, reporting, and withholding provisions under FATCA for 2014 and 2015 for entities that have made “good faith efforts to comply” with the regulations. (See IRS notice 2014-33 Further Guidance on the Implementation of FATCA and Related Withholding Provisions.)