This webinar from the Tax Faculty provides a round up of all the measures that are under review and subject to consultation, and how the faculty will be responding.
Practical guidance and support on tax disclosure around the world including, DAC 6 and the OECD’s mandatory disclosure regime.
Guidance on Aggressive tax avoidance schemes – what you need to bear in mind
PCRT sets out the principles and standards of behaviour that all members, affiliates and students must follow in their tax work.
Features and articles
Lindsey Wicks summarises a study and recommendations from the Organisation for Economic Co-operation and Development, including lowering transaction taxes, capping main residence exemption and mortgage interest relief, and reassessing rental income
Frank Haskew reviews the background to the UK debate on regulation of the tax profession.
HMRC has improved functionality around gForms to allow the entire form to be viewed before completion.
This month’s top technical stories include an HMRC investigation on suspected R&D tax relief fraud; summaries of the various tax measures announced in the Draft Finance Bill 2022-2023 and support on the extension of trust registrations.
ICAEW reported that payment of some R&D tax credits have been stopped while HMRC investigated some concerning claims. HMRC has now provided further details relating to this campaign.
The European Commission has issued a stakeholder consultation on options for addressing the role of enablers that contribute to tax evasion and aggressive tax planning.
Companies or partnerships can be found guilty of a criminal charge, where someone associated with that business has facilitated tax evasion, and where they have not done enough to prevent this from occurring.
This month’s top technical stories include a decrease in the UK’s estimated tax gap, delay to implementation of the global minimum tax rate and HMRC clarification on R&D tax credit compliance checks.
Webinars and recordings
This webinar from the Tax Faculty explores the call for evidence on earlier payment of income and corporation taxes.
Bloomsbury Core Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.
A chapter on HMRC powers in relation to serial tax avoiders.
A chapter on HMRC powers in relation to disclosure of tax avoidance schemes (DOTAS) rules.
Guide to the growing breadth of HMRC powers and the increasingly complex penalty regime for non-compliance.
A chapter on HMRC powers in relation to tax penalties.
Expert commentary on how to draw a line between tax planning, tax avoidance and illegal tax evasion, in relation to capital gains tax.
A full chapter providing practical guidance on company tax returns and dealing with HMRC.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact email@example.com.
An overview of tax evasion and avoidance methods in the UK, with reference to some high-profile tax tribunal cases where legal avoidance schemes were been exploited in ways not originally intended by the government or HM Revenue & Customs. The author also suggests some tax reforms that might lead to a 'fairer' system.
Outlines the difference between HMRC enquiries under self-assessment and discovery assessments. The chapter also address settlements, penalties and criminal proceedings and lists the main criminal offences related to tax.
HMRC has recently taken a more aggressive stance on tax avoidance schemes, even though the schemes do not conflict with the letter of the law. This has taken the form of a general anti-avoidance rule (GAAR), regulations on transfer pricing, disclosure stipulations and stiffer penalties for non-compliance.
How to reduce taxes by moving your business offshore.
ICAEW’s response to HMRC’s call for evidence on Income Tax Self Assessment Registration for the Self-employed and Landlords. ICAEW does not support the suggestions for basing the notification requirement on the date an income source starts or a threshold is exceeded or reducing the period after the end of the tax year allowed for notification.
Draft legislation aimed at tackling promoters of tax avoidance schemes includes subjective terms and tests which are open to interpretation, says ICAEW in its response to HMRC's consultation. The terms should be amended or HMRC guidance created outlining its interpretation to avoid confusion.
In responding to HMRC's call for evidence on timely payment, ICAEW argues that earlier payment of income and corporation tax should not be considered until the economy has recovered and that earlier payment should not be based on in-year estimates without HMRC first demonstrating that they can be a reliable basis for earlier payment.
A response dated 11 June 2021 to a consultation published by HMRC on 23 March 2021.