“We should protest about the way the media misrepresent avoidance”
HMRC have set a closing date of the tax ‘amnesty’ relating to employee benefit trusts (EBTs).
Employers who used an EBT to avoid tax before 6 April 2011 must notify the department by 31 March 2015 that they wish to take advantage of the beneficial terms of the settlement opportunity to resolve PAYE and National Insurance liabilities.
All amounts due are due by 31 July 2015 unless the employer has in place a signed time-to-pay agreement.
CIOT predicts level playing field for access to alpine tax agreement
Chappell v CRC, Upper Tribunal (Tax and Chancery Chamber)
HMRC need to rethink their policy on film tax schemes
HMRC are set to implement agreements between the UK and a number of overseas jurisdictions to adopt a common reporting standard on financial account information.
A consulation document, Implementing Agreements Under the Global Standard on Automatic Exchange of Information to Improve International Tax Compliance, seeks views on the measures.
HMRC is planning to shore up the disclosure of tax avoidance schemes (DOTAS) regime through a series of revamps and additions.
A consultation document published by the tax department puts forward options on how to improve the information provided through DOTAS and how to support the new accelerated payments rules.
The main proposals centre on changes to:
HMRC are offering users of contractor loan schemes the chance to avoid litigation over their tax affairs.
The schemes are complex arrangements by which individuals sign an agreement of employment with an offshore employer. They receive remuneration in the UK, through an offshore company or trust, in supposed non-taxable loans, rather than income.
Last week’s debate on transparency looked at ways to restore trust in the tax system
Looking ahead to Scotland’s land and buildings transaction tax
HMRC drop anti-avoidance plans
A view of the tenth and last Finance Bill debate sitting