Search Results for: HM Revenue and Customs
UK taxpayers learn how much of their money goes on welfare
November 3rd, 2014
Taxpayers will for the first time receive their Annual Tax Summary, which will show how much tax the person has paid and to which government departments the money has gone. HM Revenue & Customs will begin sending out the ...
New criminal offence proposed to catch tax evaders
August 19th, 2014
People who fail to declare offshore tax liabilities could face prosecution under proposed new laws published for consultation today. HM Revenue & Customs has urged wealthy individuals to come forward and pay what they owe in advance of the ...
DOTAS ‘kiss of death’ for tax avoidance schemes
August 5th, 2014
The Dotas regime has become the “kiss of death” for tax avoidance schemes and has pushed some promoters into providing non-DOTAS structures instead. The Disclosure of Tax Avoidance Schemes (DOTAS) sees anyone entering into a scheme generating tax savings ...
Plans outlined to amend tax rules to enable new simplified reporting of VAT owed for supply of digital services
July 30th, 2014
Proposed amendments to UK tax rules are being consulted on by HM Revenue & Customs (HMRC) to recognise a new simplified mechanism that is being introduced for reporting VAT owed on the supply of digital services following changes to ...
European Stocks Drop for Fifth Day; Fugro Tumbles
July 10th, 2014
European stocks fell for a fifth day, as Chinese exports (CNFREXPY) missed estimates and some Federal Reserve officials expressed concern over complacency about risks in the economy. U.S. index futures and Asian shares also slid. Fugro NV sank the ...
Deloitte warns platforms of EU tax nightmare
July 1st, 2014
Incoming European tax legislation could cause a headache for UK platforms with non-UK citizen clients, who would be liable to pay VAT on providers’ services, consultants Deloitte has warned. Daniel Lyons, partner at Deloitte, said platforms could fall under ...
Tax avoidance company threatens to sue Deloitte
June 18th, 2014
Icebreakers Management, the company behind the tax avoidance scheme used by pop band Take That, has threatened Deloitte with legal action. Icebreaker Management created the Icebreakers tax avoidance scheme which was used by Take That stars Gary Barlow, Howard ...
Bitcoin: guide for tax purposes
May 19th, 2014
Interest in Bitcoin has shot up since the virtual currency’s inception in 2009, and many a contractor is considering how it could play a part in their business, writes James Poyser, co-founder of online contractor accountancy firm inniAccounts. While ...
How much is your personal data worth?
April 22nd, 2014
British ministers are looking at changes that will allow HMRC to sell taxpayers’ data to third parties. Putting aside the privacy issues, how much is personal data worth? As this paper reported last week, ministers are considering changes in ...
UK’s banks pay 71% of profits in tax
March 28th, 2014
THE UK’S LARGEST BANKS paid an effective tax rate of 71.3% of their profits to HM Revenue & Customs in 2013, according to research conducted by KPMG. KPMG’s study examined several key metrics in the published results of the ...
