The cases of Tower Radio and Aberdeen Asset Management are further evidence of a shift in the courts against avoidance
Employers are being given the chance to settle open enquiries into the use of employee-financed retirement benefit schemes (EFRBS) arrangements by agreement and without needing to take part in litigation.
Firms have until 31 December 2013 to consider the two options offered by HMRC:
HMRC say they are aware of a tax error affecting recipients of disbursement from the Redundancy Payments Office (RPO) but will not make corrections unless asked to do so.
The RPO provides financial settlements to staff members of insolvent employers but does not operate a tax code on the payments, meaning only basic rate tax is deducted and workers often find they have paid tax excessively or erroneously.
“Government needs to take measures to help rest of UK”
A medical consultant owns two cars that are used for business purposes. His wife, who assists in the business and receives a £15,000 salary, is insured to drive these cars and HMRC are contending that a car benefit arises on one of them
HMRC have yet to repay National Insurance contributions following the taxpayer’s victory in Total People
Restricted securities taxation as explained to students of Tolley Exam Training
Proposals for offshore employment intermediaries are likely to create more problems than they solve
Two in five workers could be paying wrong tax, claim accountants
Several clients operate as contractors through personal service companies. The contracts have been reviewed by a specialist firm, which provides insurance cover against income tax and National Insurance liabilities if the IR35 rules apply
PAYE schemes on which there has been no activity for at least 120 days will be automatically cancelled, HMRC have announced.
A letter – an RTI206 – will be issued to an employer of a shutdown, following an automated review of Revenue records.
The department claimed the new approach will allow officials to identify at a much earlier point that no returns are due – and it removes the obligation to make real-time submissions and subsequent requests for both returns and payment.
Professional accounting body calls for simplification