Features and articles from ICAEW related to tax avoidance and ensuring compliance with UK tax regime.
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Andrew Cockman reviews the Supreme Court decision in Fisher concerning the transfers of assets abroad rules.
MPs are scheduled to start debating Finance Bill 2023-24 on 10 January. ICAEW has produced briefings on R&D, pensions, provision of additional data and promoters of tax avoidance.
The House of Lords Economic Affairs committee inquiry into the draft Finance Bill 2023-24 received 19 written responses and has heard from five representative bodies, including ICAEW.
The Tax Faculty provided input on measures relating to the proposed merged R&D tax credit scheme, tougher measures for promoters of tax avoidance, changes to data HMRC collects from customers and abolishing the pensions lifetime allowance.
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Nick Wright summarises the key case law that is relevant to understand whether HMRC will provide statutory clearance for a transaction.
HMRC’s proposals would allow a criminal offence to be applied where promoters continue to promote a scheme after a stop notice has been issued, and directors to be disqualified in some situations.
Highlights from the broader tax news for the week ending 21 June 2023, including: employer updates; income record viewer video; deadline to create agent services account for repayment claims; raising awareness of tax avoidance schemes; corporate interest restriction reporting companies; and interactive guidance and gform for self-employed taxpayers working abroad.
ICAEW’s Tax Faculty is seeking input from members on consultations on a range of issues including IR35, cryptoassets, and reform of stamp taxes on shares. Read the full list of consultations and find out who to contact with your views.
Simplifying and modernising the tax system and tackling the tax gap – this framed the consultations, calls for evidence and next steps announced on tax administration and maintenance day (TAM day). ICAEW’s Tax Faculty highlights the key points.
Highlights from the broader tax news for the week ending 12 April 2023, including: pension lump sums; HMRC’s Digital Disclosure Service; digital services tax; partnerships holding UK residential property; till system disclosures; and disguised remuneration instalment arrangements.