‘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.’
The Guardian, 17th August 2016
Source: www.guardian.co.uk
‘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.’
HM Revenue and Customs, 17th August 2016
Source: https://www.gov.uk/government/organisations/hm-revenue-customs
‘Accountants, lawyers and consultants whose multibillion pound industry provides advice on how to aggressively avoid tax could face large financial penalties under government proposals.’
The Guardian, 17th August 2016
Source: www.guardian.co.uk
‘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.’
OUT-LAW.com, 31st May 2016
Source: www.out-law.com
‘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.’
The Guardian, 26th April 2016
Source: www.guardian.co.uk
‘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.’
Daily Telegraph, 15th April 2016
Source: www.telegraph.co.uk
‘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.’
The Guardian, 13th April 2016
Source: www.guardian.co.uk
‘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?’
Full story
The Independent, 13th April 2016
Source: www.independent.co.uk
‘Inheritance tax is a losing issue for the left and the right, despite raising a mere quarter of 1 per cent of GDP.’
The Independent, 11th April 2016
Source: www.independent.co.uk
‘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.’
The Guardian, 10th April 2016
Source: www.guardian.co.uk
‘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.’
The Independent, 18th January 2016
Source: www.independent.co.uk
‘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.’
The Guardian, 9th January 2016
Source: www.guardian.co.uk
‘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.’
OUT-LAW.com, 3rd December 2015
Source: www.out-law.com
Supreme Court, 29th July 2015
‘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.’
The Guardian, 31st July 2015
Source: www.guardian.co.uk
‘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.’
Hardwicke Chambers, 15th June 2015
Source: www.hardwicke.co.uk
‘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.’
OUT-LAW.com, 5th June 2015
Source: www.out-law.com
‘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.’
The Guardian, 18th April 2015
Source: www.guardian.co.uk
‘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.’
RPC Tax Take, 25th March 2015
Source: www.rpc.co.uk
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