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HMRC sets out draft guidance on penalties for enablers of defeated tax avoidance – Out-Law.com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‘Draft guidance that explains when accountants, lawyers, financial advisers and auditors, amongst others, might be penalised for helping others to avoid tax has been published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.’

Full press release

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

Avoid/evade – Counsel

‘Recent news analysis of the Panama Papers, and high-profile-personality stakes in offshore funds, have turned up the heat in the tax avoid v evade debate. Kevin Prosser QC sheds light on this greyest of areas.’

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Counsel, July 2016

Source: www.counselmagazine.co.uk

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

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

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

‘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

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