Case Preview: Project Blue Ltd v HMRC – UK Supreme Court Blog

Posted March 15th, 2018 in appeals, HM Revenue & Customs, news, tax avoidance, taxation by tracey

‘Steven Sieff, consultant in the tax team at CMS, offers a preview of the decision awaited in Project Blue Ltd v Commissioners for Her Majesty’s Revenue and Customs.’

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UK Supreme Court Blog , 13th March 2018

Source: ukscblog.com

Accountants and lawyers ‘must report’ aggressive tax avoidance schemes – The Guardian

Posted March 14th, 2018 in accountants, banking, legal profession, news, notification, penalties, tax avoidance by sally

‘Accountants, bankers and lawyers will face penalties if they fail to report aggressive tax avoidance schemes that help companies or individuals move money to offshore havens, under a new European Union law.’

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The Guardian, 13th March 2018

Source: www.theguardian.com

Legal rights are not all right: when morality and the law collide – OUP Blog

Posted February 2nd, 2018 in counterfeiting, drug offences, homosexuality, news, tax avoidance by sally

‘In early November 2017, media outlets hailed the Paradise Papers as a major scoop: 13.4 million leaked documents revealed the financial details of some of the world’s leading brands, politicians, sports stars, and musicians. But this was to be no repeat of last year’s Panama Papers, in which well-known names appeared relating to criminal acts like “corruption,” “tax evasion,” and “money laundering”; the Paradise Papers failed to reveal a single crime.’

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OUP Blog, 31st January 2018

Source: blog.oup.com

Tax firm negligent for not warning about risks of avoidance scheme – Law Society’s Gazette

Posted December 13th, 2017 in law firms, negligence, news, tax avoidance by sally

‘The Court of Appeal has ruled that a law firm was negligent in not giving its client any specific warning about the pitfalls of a tax avoidance scheme.’

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Law Society's Gazette, 12th December 2017

Source: www.lawgazette.co.uk

Court of Appeal finds firm negligent for failing to warn over risk of tax avoidance scheme – Legal Futures

Posted December 12th, 2017 in appeals, law firms, negligence, news, solicitors, tax avoidance by sally

‘A firm of solicitors should have warned a client of the significant risk that a tax avoidance scheme would not withstand a challenge from HM Revenue & Customs (HMRC), the Court of Appeal has ruled.’

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Legal Futures, 12th December 2017

Source: www.legalfutures.co.uk

When tax advice strays from planning to avoidance and evasion – Hardwicke Chambers

Posted November 23rd, 2017 in financial advice, news, tax avoidance, tax evasion by sally

‘With the tax affairs of so many VIPs once more in the headlines, Andrew Reid and James Hall consider what claims can be brought against the original advisers and what might be done to avoid that happening.’

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Hardwicke Chambers, 10th November 2017

Source: www.hardwicke.co.uk

Judicial review appeal fails in UK diverted profits tax case – OUT-LAW.com

‘Oil and gas distributing company Glencore Energy’s application for judicial review of the issue of a diverted profits tax (DPT) charging notice by HM Revenue and Customs (HMRC) has been rejected for a second time.’

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OUT-LAW.com, 3rd November 2017

Source: www.out-law.com

‘Tax gap’ due to ‘legal interpretation’ jumps 9% to £6bn – OUT-LAW.com

‘The amount of tax the UK’s HM Revenue & Customs (HMRC) thinks is being underpaid due to ‘legal interpretation’ has increased by 9% over the last year to £6bn, up from £5.5bn in 2014/15 according to ‘tax gap’ figures released by the tax authority.’

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OUT-LAW.com, 27th October 2017

Source: www.out-law.com

HMRC sets out draft guidance on penalties for enablers of defeated tax avoidance – Out-Law.com

Posted October 25th, 2017 in HM Revenue & Customs, news, penalties, tax avoidance by michael

‘Draft guidance that explains when accountants, lawyers, financial advisers and auditors, amongst others, might be penalised for helping others to avoid tax has been published by HM Revenue and Customs.’

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Out-Law.com, 24th October 2017

Source: www.out-law.com

Bad advice, limitation and tax avoidance – Hardwicke Chambers

Posted October 23rd, 2017 in limitations, negligence, news, tax avoidance by sally

‘When does the claimant’s cause of action accrue in a professional negligence case? In particular, at what point has the claimant suffered a recoverable loss? This question is of course most relevant when a potential limitation defence arises under section 2 of the Limitation Act 1980, and is an issue that the courts have struggled with for some time. The recent case of Halsall v Champion Consulting Limited [2017] EWHC 1079 (QB) serves as a useful reminder of the difficulties that can arise in this area.’

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Hardwicke Chambers, 17th October 2017

Source: www.hardwicke.co.uk

Solicitors lose claim over losses caused by tax mitigation schemes – Legal Futures

Posted June 5th, 2017 in accountants, law firms, negligence, news, solicitors, tax avoidance by tracey

‘Partners at a leading personal injury law firm have lost a professional negligence action against the accountants who recommended they sign up to two ultimately unsuccessful tax mitigation schemes.’

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Legal Futures, 5th June 2017

Source: www.legalfutures.co.uk

Crackdown on ‘disguised self-employment’ behind increased HMRC payroll tax take, says expert – OUT-LAW.com

‘HM Revenue and Customs (HMRC) collected an additional £705 million in tax from investigations into companies’ payroll taxes last year, almost half of which was collected from small or medium-sized businesses (SMEs), according to new figures.’

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OUT-LAW.com, 4th April 2017

Source: www.out-law.com

The changing meaning of tax avoidance – OUP Blog

Posted March 2nd, 2017 in news, tax avoidance, tax evasion, taxation by sally

‘There are some economic terms that are fixed and immutable. Marginal cost will always be the addition to cost from an incremental increase in output, and average cost will never be anything other than total cost divided by output. Other terms have greater fluidity and evolve over time with developments in theory and practice. For this reason, compilation of the Dictionary is never finished and definitions are never final.’

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OUP Blog, 1st March 2017

Source: www.blog.oup.com

UK’s super rich appear to get special deal from HMRC, says watchdog – The Guardian

Posted January 27th, 2017 in news, reports, select committees, tax avoidance by sally

‘Britain’s wealthiest people appear to get preferential treatment from HM Revenue & Customs and are not being properly pursued for outstanding tax bills, parliament’s spending watchdog has concluded.’

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The Guardian, 27th January 2017

Source: www.guardian.co.uk

Football tax review called for by HMRC chief – BBC News

Posted December 8th, 2016 in news, sport, tax avoidance, taxation by tracey

‘The chief executive of HM Revenue and Customs, Jon Thompson, has told MPs he would like to see a review of the way footballers can reduce their tax bills. He said payments to them for their image rights were “the most significant risk in football” faced by HMRC.’

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BBC News, 7th December 2016

Source: www.bbc.co.uk

New Act – legislation.gov.uk

Posted September 19th, 2016 in legislation, tax avoidance, tax evasion, taxation by tracey

Finance Act 2016

Source: www.legislation.gov.uk

Tax avoidance sanctions proposals “threaten rule of law” – Legal Futures

‘Government proposals to clamp down on tax avoidance by targeting advisers with sanctions if HMRC successfully challenges a scheme further blur the line between evasion and avoidance, and “threaten the rule of law”, according to a prominent tax lawyer.’

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Legal Futures, 18th August 2016

Source: www.legalfutures.co.uk

Proposal to fine tax avoidance enablers lacks teeth, campaigners say – The Guardian

Posted August 18th, 2016 in banking, consultations, fines, law firms, news, tax avoidance by tracey

‘Government proposals to impose heavy fines on banks, accountants and lawyers who market tax avoidance schemes will fail without more resources for HM Revenue & Customs to pursue offenders, campaigners have said.’

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The Guardian, 17th August 2016

Source: www.guardian.co.uk

Tax avoidance enablers to face tough new penalties – HM Revenue and Customs

Posted August 18th, 2016 in accountants, consultations, fines, penalties, press releases, tax avoidance by tracey

‘Accountants, tax planners and advisers who provide advice on how to avoid tax will face tough penalties under new proposals being consulted on by the government, Financial Secretary to the Treasury Jane Ellison announced today.’

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HM Revenue and Customs, 17th August 2016

Source: https://www.gov.uk/government/organisations/hm-revenue-customs

Firms giving advice on aggressive tax avoidance could face large fines – The Guardian

Posted August 17th, 2016 in accountants, consultations, fines, news, tax avoidance by sally

‘Accountants, lawyers and consultants whose multibillion pound industry provides advice on how to aggressively avoid tax could face large financial penalties under government proposals.’

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The Guardian, 17th August 2016

Source: www.guardian.co.uk