Court of Appeal: SDLT not payable by company using Shari’a finance scheme – OUT-LAW.com

‘Project Blue Limited (PBL) was not liable for stamp duty land tax (SDLT) in respect of its acquisition of the former Chelsea Barracks by means of a Shari’a finance scheme, the Court of Appeal has ruled.’

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OUT-LAW.com, 31st May 2016

Source: www.out-law.com

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Regulator widens inquiry into UK firms’ links with Panama Papers tax havens – The Guardian

‘The City regulator has widened its inquiries into potential links between UK financial firms and the law company at the centre of the Panama Papers revelations, it said on Tuesday.’

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The Guardian, 26th April 2016

Source: www.guardian.co.uk

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HMRC investigates just 35 wealthy tax evaders per year, report reveals – Daily Telegraph

‘HMRC investigated just 35 wealthy people for tax evasion last year, prompting a committee of MPs to warn the level of action is “woefully inadequate” in the wake of the Panama Papers tax avoidance scandal.’

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Daily Telegraph, 15th April 2016

Source: www.telegraph.co.uk

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‘Aggressive’ tax avoidance scheme based on Disney film rights to appeal to supreme court – The Guardian

Posted April 14th, 2016 in appeals, news, Supreme Court, tax avoidance by sally

‘A film partnership accused by HM Revenue & Customs of using industry exemptions to help its members avoid paying their fair share of tax will this week take its case to the supreme court.’

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The Guardian, 13th April 2016

Source: www.guardian.co.uk

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Do you know the difference between tax evasion and tax avoidance? Take our quiz – The Independent

Posted April 13th, 2016 in news, tax avoidance, tax evasion, taxation by sally

‘Most of us have little choice about how we pay our tax. It simply comes out of our pay packets.

We don’t have a choice to evade or avoid tax even if we wanted to. Or do we?’
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The Independent, 13th April 2016

Source: www.independent.co.uk

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Inheritance tax should be scrapped – it’s unpopular and barely raises any money

Posted April 12th, 2016 in inheritance tax, news, tax avoidance, tax evasion, taxation by sally

‘Inheritance tax is a losing issue for the left and the right, despite raising a mere quarter of 1 per cent of GDP.’

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The Independent, 11th April 2016

Source: www.independent.co.uk

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National Crime Agency demands quicker access to offshore firm records – The Guardian

‘The UK crime agency is demanding quicker access to the corporate records of secretive offshore companies in Britain’s overseas territories including the British Virgin Islands, Bermuda and the Cayman Islands.’

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The Guardian, 10th April 2016

Source: www.guardian.co.uk

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‘Big Four’ audit firms never examined over illegal tax plans – The Independent

Posted January 18th, 2016 in accountants, auditors, financial regulation, news, tax avoidance by tracey

‘Audit and accountancy firms who devise tax-avoidance schemes ruled unlawful have never faced official reprimand, The Independent can reveal. None of the so-called “Big Four” firms – PricewaterhouseCoopers (PwC), KPMG, Deloitte & Touche and Ernst & Young – has ever faced regulatory investigation for such schemes. Court rulings condemning unlawful avoidance schemes are regularly overlooked by regulators.’

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The Independent, 18th January 2016

Source: www.independent.co.uk

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City watchdog denies going soft on banks after dropping inquiry – The Guardian

Posted January 11th, 2016 in banking, financial regulation, inquiries, news, ombudsmen, tax avoidance by tracey

‘The acting chief executive of the City watchdog has denied claims it has gone soft on banks following the decision to drop its inquiry into banking culture.’

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The Guardian, 9th January 2016

Source: www.guardian.co.uk

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Court of Appeal highlights ‘real prospect of success’ of accelerated payment notice judicial review – OUT-LAW.com

‘Investors in the Ingenious Media film partnership schemes have been granted the right to appeal the High Court’s dismissal of their challenge to HM Revenue and Customs (HMRC), which had required up-front payment of disputed tax.’

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OUT-LAW.com, 3rd December 2015

Source: www.out-law.com

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John Mander Pension Scheme Trustees Ltd v Commissioners for Her Majesty’s Revenue and Customs – Supreme Court

John Mander Pension Scheme Trustees Ltd v Commissioners for Her Majesty’s Revenue and Customs [2015] UKSC 56

Supreme Court, 29th July 2015

Source: www.youtube.com/user/UKSupremeCourt

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Ingenious film investors lose human rights challenge over upfront tax – The Guardian

‘More than 150 wealthy investors in controversial film investment schemes, which HMRC says amount to tax avoidance, have lost a human rights challenge to new powers tax inspectors have been deploying to demand upfront payments.’

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The Guardian, 31st July 2015

Source: www.guardian.co.uk

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Limitation, latent damage and tax mitigation scheme claims – Hardwicke Chambers

‘As (relatively) recent press coverage of celebrity participants shows, litigation relating to tax mitigation (or avoidance) schemes is on the rise. HMRC has taken an increasingly harder line in recent years both in tightening the legislation surrounding tax avoidance and in refusing and litigating claims for tax relief based on “losses” incurred in tax mitigation schemes. Investors who have lost out are increasingly turning to their original financial advisers for recompense. Unfortunately, many such claims are only considered or intimated after the primary limitation period has passed.’

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Hardwicke Chambers, 15th June 2015

Source: www.hardwicke.co.uk

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Upper Tribunal: Ocean Finance VAT arrangements could stand as not ‘wholly artificial’ – OUT-LAW.com

Posted June 10th, 2015 in advertising, HM Revenue & Customs, news, tax avoidance, tribunals, VAT by sally

‘HM Revenue and Customs (HMRC) should not look beyond the contractual arrangements that govern a company’s structure when establishing liability for VAT unless those arrangements do not reflect “economic and commercial reality”, a tribunal has ruled.’

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OUT-LAW.com, 5th June 2015

Source: www.out-law.com

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TV ‘exposure’ of Scientology halted by UK libel law split – The Guardian

‘Plans to broadcast HBO’s Church of Scientology exposé, Going Clear, have been shelved by Sky Atlantic in a virtual repeat of events two years ago, when UK publishers abandoned publication of the book on which the hard-hitting new TV documentary is based.’

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The Guardian, 18th April 2015

Source: www.guardian.co.uk

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Avoidance scheme effective despite HMRC’s attempt to rely on Ramsay – RPC Tax Take

Posted March 31st, 2015 in appeals, corporation tax, HM Revenue & Customs, news, tax avoidance, tribunals by sally

‘In Gemsupa Limited and Consolidated Property Wilmslow Limited v HMRC [2015] UKFTT 0097 (TC), the First-tier Tribunal (Tax Chamber) (“FTT”) found that an avoidance scheme designed to avoid corporation tax on chargeable gains on the disposal of properties through the use of share sales and options to create and then disband a group was effective.’

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RPC Tax Take, 25th March 2015

Source: www.rpc.co.uk

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Family Law Week’s Budget Briefing 2015 – Family Law Week

Posted March 24th, 2015 in benefits, budgets, families, news, social security, tax avoidance, taxation by sally

‘Jan Ellis, chartered accountant, of Ellis Foster LLP, a firm which specialises in advising family lawyers on tax-related family law issues, explains the budget changes of most relevance to family lawyers.’

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Family Law Week, 18th March 2015

Source: www.familylawweek.co.uk

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Tribunal confirms no penalty for implementing tax avoidance scheme – RPC Tax Take

Posted March 19th, 2015 in news, penalties, tax avoidance, tribunals by sally

‘In the recent case of Herefordshire Property Company Ltd v HMRC1, the First-tier Tribunal (Tax Chamber) (“FTT”) allowed the taxpayer’s appeal against the imposition by HMRC of a penalty, which was based on an allegation of negligent implementation of a tax planning scheme by the taxpayer.’

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RPC Tax Take, 18th March 2015

Source: www.rpc.co.uk

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Divorcing? Delay until April 6 to cut your tax bill – Daily Telegraph

Posted March 18th, 2015 in capital gains tax, divorce, news, tax avoidance, taxation by sally

‘A little-understood aspect of the tax rules means couples could avoid capital gains tax by delaying separation until the next financial year.’

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Daily Telegraph, 17th March 2015

Source: www.telegraph.co.uk

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Disclosure requirements for ‘high risk’ UK tax avoidance scheme promoters come into force – OUT-LAW.com

Posted March 11th, 2015 in disclosure, HM Revenue & Customs, news, tax avoidance by tracey

‘Promoters of tax avoidance schemes that have been identified as “high risk” by UK tax authorities must now publicise that they are being monitored so that potential customers are aware of the risks of using them, HM Revenue and Customs (HMRC) has announced.’

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OUT-LAW.com, 10th March 2015

Source: www.out-law.com

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