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HMRC Issues Electrician Amnesty Reminder 5/7/2012 HM Revenue and Customs has issued a reminder warning electricians that they have only a limited time left to register for a tax amnesty scheme that would allow them to pay any undisclosed tax owed.
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HMRC Increases Use Of Asset Seizure Powers 5/7/2012 The UK tax authority, HM Revenue and Customs is increasingly using its powers
to seize businesses assets in order to recover unpaid value-added tax bills, new statistics
show.
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HMRC Apologises For Self-Assessment Penalty Error 5/3/2012 The UK tax authority, HM Revenue and Customs, has apologised to taxpayers following the dispatch of incorrect
penalty notices to individuals supposed to have been removed from its Self Assessment
program.
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HMRC Will Not Appeal Stamp Duty Ruling 5/3/2012 The UK tax authority, HM Revenue and Customs, will no longer seek to impose Stamp Duty Reserve Tax on the issue of shares to depositary receipt issuers and clearance services outside the European Union following a recent legal ruling.
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Osborne 'Shocked' By UK Tax Dodging 4/13/2012 George Osborne has admitted to being 'shocked' by high levels of tax avoidance amongst the UK's wealthiest people, hinting at his support for a so-called 'tycoon tax'.
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HMRC Launches 24-on-24 Webinar Programme 4/12/2012 HM Revenue and Customs' 'webinar' programme has been made available 24 hours a day, in a move designed to make information easier to access.
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HMRC Launches Bereavement Service 4/11/2012 HM Revenue and Customs is to improve and streamline its customer service programme by launching a Bereavement Service for taxpayers.
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HMRC Issues UK Amnesty Deadline Reminder 3/12/2012 HM Revenue and Customs has issued a reminder to tutors and coaches that they have less than a month left to take advantage of a tax amnesty scheme.
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UK QROPS Proposals 'Grossly Unfair On Guernsey' 2/29/2012 Changes to tax regulations that aim to clamp down on the mis-selling of qualifying recognized overseas pension schemes will disproportionately affect Guernsey, which has a completely clean QROPS record with the UK tax authority, HM Revenue and Customs, according to a leading Guernsey QROPS provider.
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Barclays Responds To Tax Controversy 2/29/2012 While Barclays has confirmed that it is the bank at the centre of what HM Revenue and Customs has called two abusive tax avoidance schemes, it has stressed that it 'takes its responsibilities as a corporate citizen very seriously' and complies 'with the letter and spirit of all our obligations' under the UK banking code of conduct.
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UK Outlines 2012 Tax Enforcement Plans 2/13/2012 The UK tax authority, HM Revenue and Customs has outlined that in the coming year
it will focus its tax enforcement efforts on taxpayers that fail to make tax returns
and those that are liable to pay tax at the highest personal income tax rates,
as well as launching targeted campaigns in two specific sectors.
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Liechtenstein, UK Seal Tax Treaty 2/9/2012 During a recent working visit to Vaduz by Dave Hartnett, UK Permanent Secretary for
Tax, Liechtenstein and the UK initialled a landmark
comprehensive bilateral Income Tax Treaty, and extended the unique Liechtenstein
Disclosure Facility.
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Guernsey Prepared For Change To UK QROPS Rules 2/7/2012 Guernsey Finance - the promotional agency for the island's financial services
industry has confirmed that the Guernsey government will act to protect local
providers of QROPS pension arrangements if the UK tax authority, as expected,
pushes ahead with changes to its QROPS regime, expected to be introduced from April 6, 2012.
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HMRC Makes PAYE Tax Code Change Proposals 1/23/2012 HM Revenue and Customs has released for comment draft legislation on proposed changes to the tax codes relating to share-based payments for former employees.
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UK Tax Institute Warns Of Tough New HMRC Penalties 1/2/2012 The UK's Self Assessment filers have been warned that HM Revenue and Customs is to impose a tough new penalty system from next year.
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Latest UK Transfer Pricing Statistics Released 12/30/2011 HM Revenue and Customs has made significant progress in settling transfer pricing enquiries, according to new figures which also show an increased revenue yield.
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HMRC Helps Employers Improve PAYE Systems 12/14/2011 HM Revenue and Customs is to help out at those businesses experiencing the most issues with data quality, in a drive to help employers improve their 'Pay As You Earn' information.
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HMRC Assesses Half-Year Performance 12/13/2011 The UK's revenue agency has improved its fraud prevention and compliance record, but customer service is still falling short of expectations, according to the findings of its own performance assessment.
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HMRC Warns UK Businesses Of Upcoming VAT Filing Changes 12/9/2011 With e-filing and payment set to become mandatory for the UK's value-added tax registered businesses, HM Revenue and Customs has issued an alert detailing how the changes will work.
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Diageo Boss Decries UK 50% Tax 10/25/2011 Chief executive of Diageo, Paul Walsh, has criticized the UK's 50% income tax rate on top earners, stating that the rate was detrimental to Britain’s economy and indicating that his company may relocate to a jurisdiction with less severe taxation.
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7 Million Britons Incorrectly Taxed 10/24/2011 In the latest episode of a ongoing saga over its pay-as-you-earn system, HM Revenue and Customs has revealed that over seven million UK taxpayers were taxed incorrectly over a five year period, meaning it will now have to offer rebates to the tune of GBP2.5bn (USD3.9bn).
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Nadal Won’t Pay to Play Queen’s 10/21/2011 Former World No. 1 tennis player Rafael Nadal has announced that he will not play next year’s Queen's Club Championships due to UK tax law.
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VW Financial Services Wins Key UK VAT Case 10/13/2011 Volkswagen Financial Services will be able to reclaim GBP500,000 (USD788,000) in value-added tax after securing victory in a tribunal case against HM Revenue and Customs in the UK - a case which could open the door for further VAT claims against the tax authority.
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New UK Tax Crackdown Targets Tutors 10/12/2011 The UK tax authority, HM Revenue and Customs, has turned its attention to private tutors and coaches with undeclared tax liabilities, as part of its ongoing clampdown on tax evasion.
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HMRC Outlines UK Self Assessment Penalty Changes 9/13/2011 HM Revenue and Customs's tough stance on tax avoidance has been reiterated with the agency issuing a reminder to taxpayers detailing new self assessment penalties for late returns and payments.
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UK VAT Amnesty Deadline Approaches 9/8/2011 VAT rule-breakers have until September 30 to register to pay what they owe
under an HM Revenue and Customs amnesty campaign.
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50% Tax Rate Tarnishing UK Competitiveness 9/8/2011 A group of leading economists are the latest to place pressure on the UK
Chancellor, George Osborne, to repeal the top individual income tax rate of 50%,
warning of the 'lasting damage' the tax will cause to the UK economy if it is
not revoked 'at the earliest opportunity'.
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UK Games Machine Duty Tribunal Rules Against HMRC 9/1/2011 The UK's revenue agency has lost out in a tribunal ruling which has decided that certain electronic lottery machines ought not to be subject to licence duty.
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Complexity Drives Up UK Tax Write-Offs 8/29/2011 HM Revenue and Customs has 'given up' tax revenue worth over GBP27bn over the last five years, according to a new report which slams the complexity of the UK's tax system.
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UK Consults On Customs Law Overhaul 8/19/2011 The UK has launched a consultation on proposals to update existing customs and excise legislation, much of which dates back to the nineteenth century.
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UK Tax Raids Target 'Ghost' Plumbers 8/17/2011 The UK's clampdown on tax evasion continues to target the plumbing trade, with HM Revenue and Customs announcing the arrest of five individuals and the civil investigation of 600 others.
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Qualified Backing For UK Tax Agents Review 8/15/2011 The UK's plans for a system of enrolment for professional tax agents has received heavily qualified support from tax practitioners, who say that while the proposals are a move in the right direction, outstanding issues must be addressed.
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UK Offers Concessions To Riot-Hit Businesses 8/12/2011 In an effort to help those businesses affected by the recent riots, the UK's government and revenue agency have unveiled a series of support measures, including government funding of business rates and the negotiation of tax payment schedules.
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UK Consults On Mandatory Online VAT Returns 8/11/2011 The UK is pressing forward with the digitization of its tax system, with HM Revenue and Customs announcing plans to make online value-added tax filing, payment and registration mandatory in the coming year.
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MPs Attack HMRC's Lack Of Effectiveness 8/4/2011 Dissatisfaction with HM Revenue and Customs has been building for many years, risking an undermining of respect for the UK's tax system, a damning new report by lawmakers has shown.
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UK Banking Levy Regulations Made 7/26/2011 UK legislative amendments have been published with respect to the collection
and management of the Banking Levy. The changes will enter into force on August
11, 2011, the UK tax authority, HM Revenue and Customs has said.
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UK Tax Needs To Be More Competitive, Says TIGA 7/22/2011 TIGA, the UK games industry association, has once again criticised the UK's tax system, arguing that a better tax environment is needed, one which encourages investment, business growth and inward investment.
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HRMC Must Reduce Running Costs, Says Report 7/21/2011 HM Revenue and Customs faces a significant challenge as it attempts to improve its financial situation by simultaneously reducing running costs, finding savings and increasing revenue intake, a new report has said.
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HMRC Consults On Tax Agents Crackdown 7/18/2011 The UK's revenue agency has announced plans to clamp down on dishonest tax agents, and has launched a discussion document detailing the proposals.
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HMRC Loses Another IR35 Case 7/18/2011 The first tier tax tribunal in the UK has ruled in favour of a freelance contractor in a long-running tax dispute, casting yet more doubt on HM Revenue and Customs's seemingly fruitless policy of pursuing freelancers thought not to be genuinely trading by applying the Intermediaries legislation.
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HMRC's VAT Taskforce Turns Attention To Fast Food Shops 7/14/2011 HM Revenue and Customs' crack down on tax evaders continues, with the government now using a taskforce to tackle alleged VAT abuse in London's fast food outlets.
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UK Seeks Views On Income Tax-NI Merger 7/15/2011 Ahead of a planned consultation in the autumn, the UK government has called for evidence on the possible integration of the income tax and National Insurance contributions systems.
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HMRC Praised By UK Spending Watchdog 7/12/2011 HM Revenue and Customs's performance improved in 2010-11, with increased revenues, lower levels of error and fraud and significant progress in the stabilizing of its pay as you earn administration, but further improvement is still required, according to a new report.
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UK Launches VAT Amnesty 7/7/2011 The UK continues its crackdown on tax evasion, launching a new campaign focusing on those trading above the current value-added tax threshold, but who have not registered for the tax.
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UK Consults On VAT Exemption Provisions 6/30/2011 The UK has launched a consultation on how a European value-added tax cost-sharing exemption might be used by UK businesses and organizations, with a view to exploring a framework for its possible implementation.
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BAA Loses Key UK VAT Case 6/30/2011 The UK's Upper VAT Tribunal has ruled that British Airports Authority Limited was not entitled to
recover VAT that had been incurred in connection with its takeover by parent
company Airport Development Investments Limited, in a reversal of a previous decision by the First Tier Tribunal.
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UK Approves IoM QROPS 6/29/2011 Pensions written under Isle of Man 50C pensions legislation are now appearing
on the list of Qualifying Recognized Overseas Pension Schemes shown on the UK tax authority's website, following completion of
a review by HM Revenue and Customs. The announcement further strengthens the Isle of Man as a
leading QROPS jurisdiction.
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Lords Report On UK Tax Policy 6/23/2011 Tax policymaking is on the right track in the UK, according to a parliamentary committee, which has also highlighted four main areas requiring government attention.
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HMRC Targets Tutors And Traders 6/14/2011 The UK is to launch a series of further tax evasion crack-down schemes over the next year, tackling private tutors, e-marketplaces and traders, using new technologies to target suspects.
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Virgin Gets GBP80m VAT Refund 6/10/2011 Virgin Media has secured a tax windfall from HM Revenue and Customs, and, in a separate agreement, see its VAT contingent liability reduced.
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UK Taxpayers Warned About IHT Fines 6/7/2011 The UK tax authority, HM Revenue and Customs launched a total of 9,638 investigations
into inheritance tax valuations over the last year and is actively targeting
estates and beneficiaries, according to accountants UHY Hacker Young.
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HMRC Consults On Tax Avoidance Schemes 6/2/2011 The UK's crack down on tax avoidance continues, with three new consultations launched, designed to tackle high risk tax avoidance schemes, combat road vehicle value-added tax evasion, and amend the capital allowances system in relation to plant and machinery.
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Liechtenstein, France Seek Tax Resolution 6/1/2011 Liechtenstein and France have reportedly initiated talks designed to resolve the
issue of undeclared and untaxed wealth held by French citizens in bank accounts
in the Principality.
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Northern Ireland A Step Closer To Corporate Tax Cut 5/26/2011 A reduction in Northern Ireland's corporate tax rate could be the dramatic change needed to kick start private sector growth, and, as such, there is a 'convincing case' to suggest that the power to vary the rate ought to be devolved to the provincial assembly, according to a UK parliamentary report.
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UK Tightens Pension Tax Rules 5/27/2011 The UK has launched two major new pensions tax policy initiatives, engaging in public consultation over plans to overhaul the rules on employer asset-backed contributions to certain pension schemes, and publishing draft legislation aimed at closing a loophole for UK residents transferring pension savings overseas.
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HMRC Unveils New Compliance Campaigns 5/23/2011 The UK's revenue agency, HM Revenue and Customs, has announced the launch of its latest crackdown initiatives, this time focusing on those individuals and businesses trading above the VAT threshold without having registered to do so, and on tax, National Insurance or national minimum wage breaches among Olympic Games construction projects.
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UK Trials New Tax Compliance Process 5/20/2011 The UK's revenue agency, HM Revenue and Customs, is to run trials of a single compliance process for enquiries across a range of different taxes, designed to simplify and standardize the system.
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UK To Review Tax Administration Rules 5/19/2011 In light of the conclusion that tax administration creates considerable uncertainty and complexity for small businesses, the UK is to investigate the issue in greater depth, hoping to implement considerable improvements in the future.
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HMRC Targets UK Restaurant Trade 5/13/2011 The UK's revenue agency has in its hands the power of a new task force, with specialist teams to undertake what the government calls intensive bursts of compliance activity in specific high risk trade sectors and locations throughout the country.
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UK Pensioners Warned Over Tax Code Problems 5/13/2011 Recently pensionable taxpayers in the UK are at risk of pay as you earn tax code problems, according to chartered accountancy firm Midgley Snelling.
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UK Tax Credit Errors Reduced 5/11/2011 The UK's revenue agency has exceeded targets set with a view to cracking down on the mispayment and fraudulent claiming of tax credits, according to figures provided by the Chancellor on May 10.
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UK Cracks Down On Tobacco Smugglers 5/2/2011 The UK's revenue agency has launched a stringent new anti-smuggling scheme, directed at the illicit tobacco trade, with substantial new funds made available for the project.
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HMRC Reiterates Plumbing Amnesty 4/27/2011 In line with its recently launched amnesty scheme, known as the "plumbers’s tax safe plan", the UK's revenue agency has begun alerting those affected, urging them to take advantage of the time afforded by the scheme, and warning of the consequences of non-compliance.
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Sky Defeats HMRC In EU Customs Case 4/21/2011 The European Court of Justice has ruled in favour of British Sky Broadcasting
in relation to the treatment of its ‘Sky+ box’ for customs purposes.
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UK Details VAT Changes 4/18/2011 The UK's revenue agency, HM Revenue and Customs, has outlined details of the key changes to the value-added tax system brought in by the recent Budget. They include an increase in the taxable turnover threshold, an alteration in fuel scale charges, and compulsory online registration.
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HMRC Alerts Employers On UK PAYE Changes 4/12/2011 The UK is to see a raft of changes to its Pay As You Earn regime this spring, and HM Revenue and Customs has issued an alert explaining the key alterations affecting annual returns and other forms.
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UK Targets Overseas Pension Tax Loophole 4/8/2011 The UK has extended its crackdown on overseas tax avoidance with the closure of what the Treasury has labelled an unintended loophole for UK residents transferring pension savings overseas.
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HMRC Imposes Tough New Late Filing Penalties 4/5/2011 From April 2011, UK taxpayers who fail to return or pay their self-assessment tax returns on time will face tough new penalties, which have been considerably increased.
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UK Releases Tax Consultation Framework 4/4/2011 The UK government has published an amended version of its Tax Consultation Framework, which sets out the approach the government will take to consultation for most tax policy changes, and replaces the existing HM Revenue and Customs Framework.
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UK Highlights New Offshore Penalty Regime 3/30/2011 The UK is to impose a stringent new anti-avoidance regime on individuals with undeclared offshore income, with increased penalty rates designed to act as a powerful deterrent.
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HMRC Checks Are Misguided, Says Institute 3/22/2011 The UK's plans for business record checks have been heavily criticised by the Chartered Institute of Taxation, which does not believe that the project will meet its objectives or help businesses improve their systems.
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UK To Tackle Plant Leasing Scheme 3/10/2011 The UK government has unveiled new legislation to deal with what it calls an aggressive tax avoidance scheme involving the leasing of plant or machinery.
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New UK Amnesty Targets Plumbers 3/3/2011 HM Revenue and Customs, the UK tax authority, has launched a new amnesty scheme known as the 'plumbers’ tax safe plan' as part of a campaign focused on trades people failing to declare their earnings and pay tax.
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HMRC Releases Information On Disguised Remuneration Reform 2/28/2011 HMRC has clarified the UK government's policy intentions with regard to new changes in disguised remuneration legislation after a two-month process of consultation. In particular, proposals relating to deferral arrangements could force changes in the way banks operate their bonus systems.
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UK Budget Boosted By Higher Tax Receipts 2/25/2011 The UK economy, bolstered in part by a leap in tax revenue, enjoyed a budget surplus of GBP8.5bn for January, 2011. The Office of National Statistics's latest bulletin provides potentially encouraging news for the Chancellor ahead of the impending March Budget.
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HMRC Launches New Defaulters Programme 2/24/2011 The UK tax authority has launched a new programme designed to target known tax-evaders, provide sustained monitoring of tax affairs, and effect a permanent change in behaviour.
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UK Strengthens HMRC's Excise Tax Powers 2/9/2011 HM Revenue and Customs has reminded traders that new legislation to enter into
force in the UK on April 1, 2011, will strengthen the tax authority's powers to tackle
and investigate excise tax fraud, with the aim of protecting legitimate businesses
and state coffers.
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Mauritius Stock Exchange Recognized By UK Taxman 2/8/2011 The Stock Exchange of Mauritius has been designated as a recognised stock exchange
for the purposes of HM Revenue and Customs's tax treatment.
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HMRC Amends VAT Payment On Account Thresholds 2/1/2011 HM Revenue and Customs has announced the adoption of The Value-Added Tax (Payments
on Account) (Amendment) Order 2011, provisions of which will enter into force
in June and in December 2011.
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HMRC Denies 'Losing' National Insurance Contributions 2/1/2011 The UK tax authority, HM Revenue and Customs has refuted a number of UK media reports,
which stated that the tax authority had lost over GBP1bn in National Insurance
Contributions, affecting taxpayers’ future pension entitlements, as entirely
erroneous.
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UK Tax Credit Fraudster Gets Jail Time 1/28/2011 The leading member of a gang which perpetrated a GBP3.3m
tax credits fraud in the UK was jailed in London for five years on January 26, following
a complex international investigated led by HM Revenue and Customs.
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HMRC To Probe Small Firms' Records 1/19/2011 The UK Forum of Private Business is warning small firms to keep proper financial records or face fines in excess of GBP3,000.
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450,000 Britons Face Tax Demand 1/13/2011 The UK tax authority, HM Revenue and Customs is expected to send out letters to 450,000 taxpayers in the coming weeks requesting payment of an average of GBP400 in income tax underpayments.
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HMRC Starts Twitter Trial 12/30/2010 The UK tax authority, HM Revenue and Customs has begun trialling the use of Twitter in the lead up to the January 31 Self Assessment deadline.
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HMRC Cracks Down On Bootleggers 12/29/2010 As part of a crackdown against traders selling counterfeit and smuggled cigarettes and alcohol HM Revenue and Customs officers have been visiting a number of commercial and private addresses in the North West of England.
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HMRC Busts Disability VAT Concession Fraudsters 12/23/2010 The UK tax authority, HM Revenue and Customs announced on December 14
that it had concluded an investigation leading to the arrest of two men on suspicion
of abusing a Value-Added Tax scheme that allows individuals to use their
disability status to purchase vehicles free from VAT.
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HMRC Spotlights Tax Schemes 12/19/2010 HM Revenue and Customs has warned taxpayers seeking tax planning solutions
of the legal risks associated with employing tax avoidance schemes that may
fall foul of UK tax law.
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UK To Phase Out VAT Concession On Boats 12/16/2010 The UK tax authority, HM Revenue and Customs has announced that it is to
abolish a VAT concession on sailing boats from January 2012 following a ruling
that it conflicts with EU law.
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T-Mobile VAT Setback Has Wider Ramifications 12/8/2010 Everything Everywhere (formerly T Mobile) stands to lose GBP4m after a European Court ruling said that the firm should charge value-added tax on fees charged to customers who do not settle their bills by automatic Direct Debit transfer from their bank accounts.
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UK Banks Sign Code of Practice 12/6/2010 The UK Treasury has announced that the top 15 banks operating in the UK have adopted the Code of Practice on Taxation.
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UK Employees Face New Tax Demand 12/2/2010 Employees in the UK who were erroneously issued with tax refunds in the 2009/10 tax year may now be forced to pay that money back to HM Revenue and Customs in what is being described as the latest systems blunder by the department.
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Mixed Reaction To HMRC Budget Cuts 10/25/2010 Despite the coalition government's renewed drive against tax avoidance, not even HM Revenue and Customs was spared Chancellor George Osborne's spending axe in the recent Comprehensive Spending Review, raising doubts that the department will be able to meet ambitious collection targets.
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HMRC Concludes Major VAT Fraud Case 10/12/2010 HM Revenue and Customs has announced the conclusion of a ten-year investigation upon the issuing of a confiscation order to the mastermind behind one of the UK’s largest instances of Missing-Trader Inter-Community fraud, more popularly known as 'carousel' fraud.
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UK Tax Authority In Turmoil, Say Insiders 9/29/2010 The UK tax authority has been described as in meltdown by HM Revenue and Customs tax inspectors,
speaking last week to the national broadcaster, the BBC, on the condition of anonymity.
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HMRC Apologizes For PAYE Fiasco 9/14/2010 The UK's top tax man has said that he is 'deeply sorry' that millions of UK taxpayers will be forced to pay extra tax as a result of flaws in HM Revenue and Customs's PAYE system after previously insisting that the tax department had nothing to apologize for.
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HMRC Launches Tax Treaty Passport Scheme 9/2/2010 HM Revenue and Customs launched a new form on September 1 to enable UK corporate borrowers to inform them about a loan from a Double Taxation Treaty Passport Holder.
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HMRC Revises Inheritance Tax Policy 8/27/2010 The UK tax authority, HM Revenue and Customs, has amended its compliance policy concerning inheritance tax after finding that existing guidelines were not working well for either the taxpayer or the tax man.
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UK Businesses Dissatisfied with HMRC 8/27/2010 A report compiled on behalf of HM Revenue and Customs has revealed that 64% of
large businesses have grown more despondent over the UK tax system during the last 12
months, leading to around 20% considering relocating abroad.
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HMRC To 'Soften' Tax Avoidance Policy 8/25/2010 HM Revenue and Customs is to revise its tax litigation strategy after Dave Harnett, Permanent Secretary for Tax, admitted that officials have taken too harsh a line on tax disputes in certain cases.
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HMRC Publishes Business Customer Report 8/23/2010 HM Revenue & Customs have published their Public Bodies Customer Report, a customer-facing study of the organisation drawn from qualitative telephone interviews.
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