The First Tier Tribunal (FTT) has denied GE Financial Investments’ (GEFI) appeal to amend its corporation tax returns to exclude credit of £124m claimed in foreign tax by way of double tax relief

The latest HMRC deliberate defaulters list shows that £17.8m in penalties are outstanding for tax evasion and related non-payment for the last quarter 

The Upper Tribunal has ruled in favour of Unicorn Tankships Ltd that a balancing charge of £12.5m did not arise after the sale of a ship subject to the tonnage tax regime, rejecting HMRC’s argument

As part of measures to support businesses during the pandemic, the Chancellor announced a temporary three-year carry back relief on corporation tax trading losses. Paul Davies FCA, tax writer at Croner-i, explains

A company director has been disqualified for 11 years after participating in a multimillion pound umbrella company tax avoidance scheme

The Association of Taxation Technicians (ATT) is urging HMRC to take tougher action to combat ‘rogue’ advisers who inappropriately seek to maximise research and development (R&D) claims

Director’s loans can provide a useful mechanism, in the right circumstances, to release funds to shareholders, perhaps before dividends are due and sometimes in a more tax efficient way than drawing a salary out of a company. John McCaffery, tax partner and head of tax at Alexander & Co Chartered Accountants explains

The House of Lords has criticised the creeping extension of HMRC powers at a debate on the second reading of Finance Bill 2021, which is not receiving proper parliamentary scrutiny

With G7 countries setting out provisional plans for a 15% global corporate tax rate, George Bull, tax consultant at RSM, considers the potential shortfalls and challenges of taking a global approach

The government proposes to introduce legislation in Finance Bill 2021 to provide a temporary extension to the loss carry back rules for trading losses of both corporate and unincorporated businesses

The G7 has agreed to back an international agreement on global tax reform which would see multinationals pay a global minimum tax rate of at least 15% in each country they operate

HMRC has confirmed that a fifth self employment income support scheme (SEISS) will be available from the end of July covering the period May to September 2021 for those affected by the pandemic