Personal tax

Tax / HMRC toughens position on use of offshore trusts to avoid tax

HMRC is cracking down on the use of disguised remuneration and contractor loans after winning two tax avoidance cases at the tax tribunal over use of offshore trusts to avoid tax and NICs

Tax / Mix-up sees Welsh taxpayers charged Scottish rates

HMRC’s difficulties in handling devolved income tax regimes continue, as it has now admitted that some Welsh taxpayers have been given Scottish income tax codes by mistake by their employers so they will be paying the wrong tax

Tax / Pakistan to offer taxpayer amnesty on hidden assets

Pakistan is set to introduce a time-limited amnesty allowing taxpayers at home and abroad to regularise any undeclared assets, as part of plans to raise revenue and improve the performance of the economy

Tax / Q&A: interest in possession and residence nil-rate band

In our regular Q&A series, Kiya Jacobs, tax advice consultant at Croner Taxwise, considers the residence nil rate band and inheritance tax issues when it comes to interest in possession

Tax / Remuneration trust avoidance scheme labelled high risk

HMRC has issued a warning regarding a tax avoidance scheme, which it says is often marketed as a wealth management strategy, and is used to disguise income and other taxable profits as loans or fiduciary receipts by using a remuneration trust

Tax / Football clubs score tax windfall for HMRC

With four English football teams set to meet in the Champions League and Europa League finals, the first time one country has dominated the competitions, HMRC is set to take a multimillion pound share of prize money and player bonuses

Tax / HMRC issues wrong tax codes for Scottish MSPs

HMRC has been forced to admit that it failed to treat one third of members of the Scottish parliament (MSPs) as Scottish taxpayers, despite the fact the legislation introducing the devolved income tax regime specifically states that all MSPs, Scottish MPs and Scottish MEPs should be treated as Scottish taxpayers by default

Tax / IR35: countdown to off-payroll working rules for private sector

As government pushes ahead with mandatory private sector off-payroll working rules from 2020, Joe Tully, managing director of Brookson Legal, stresses the importance of an audit of contractor workforces to understand the scale of the challenge 

Tax / HMRC ordered to delete illegally held voice records

HMRC has been given 28 days to delete an estimated five million taxpayer biometric ‘voice prints’ obtained from callers to its helplines, after an investigation by the Information Commissioner’s Office (ICO) found they were being held illegally in contravention of data protection rules

Tax / Ethical investment directors banned over tax scheme withdrawals

Three directors of a company offering so-called ethical Costa Rican plantation investments have been banned after withdrawing over £7m from a tax planning scheme when they knew it was being investigated by HMRC

Tax / Scotland drops plan to slash air departure tax

The Scottish government has made a u-turn on plans to cut the rate of tax on air travel with the introduction of an air departure tax (ADT) in Scotland, which would replace UK wide air passenger duty (APD)

Tax / Puppy farm crackdown yields £5m in unpaid tax

A specialist HMRC taskforce has collected over £5m in taxes by tackling dishonest dog breeders, as part of wider initiatives designed to crack down on selling puppies on the black market

Tax / Remote gaming duty receipts hit £520m a year

Revenue from remote gaming duty (RGD), which is levied on online or internet based gambling via electronic devices, has risen sharply since the tax was introduced three years ago, prompting calls for some of the £529m raised annually to be invested in helping problem gamblers

Tax / Tax overpayments hit £31m as pension drawdown rockets

A record number of people withdrew funds from their pension pots in the first three months of the year, with 648,000 payments to 284,000 individuals, but problems remain with overpayments of tax, with £31.1m claimed in the first quarter of 2019

Tax / Moral outrage forces richest taxpayers to avoid tax schemes

The UK’s wealthiest taxpayers are becoming more wary about using complex tax planning and contrived tax avoidance schemes, after public concerns about moral behaviour, but still view inheritance tax (IHT) as a punitive ‘double tax’, reports Pat Sweet