Perception that ‘odds are stacked’ against HMRC drives evasion, report says

A perception that the odds are stacked against HM Revenue & Customs and in favour of business impedes the effectiveness of the tax authority’s anti-evasion efforts, according to research that identifies four “distinct profiles of evader” among small and midsize businesses in the UK. For any intervention strategy to work there is a basic requirement … Continue reading Perception that ‘odds are stacked’ against HMRC drives evasion, report says

UK tax experts question law firm regulator’s warning over schemes

Solicitors and law firms could face greater scrutiny over aggressive tax avoidance schemes, according to a warning notice issued by the Solicitors Regulation Authority, but tax experts called for clarification of some aspects of the guidance. “Like the rule of law, tax underpins the effective running of our society and economy,” said SRA chief executive … Continue reading UK tax experts question law firm regulator’s warning over schemes

UK tax advisers welcome new HMRC service for expanding businesses

Expanding UK businesses are to receive tailored tax assistance from growth support specialists at HM Revenue & Customs who will offer help with tax queries and support in accessing reliefs and incentives. “Mid-sized businesses make a vital contribution to the U.K. economy and I want to see them grow, succeed, and prosper,” Mel Stride, financial … Continue reading UK tax advisers welcome new HMRC service for expanding businesses

HMRC flags potential costs of Brexit contingency planning

Uncertainty over the outcome of negotiations on the UK’s post-Brexit customs arrangements may force HM Revenue & Customs and traders to incur expenditure that could turn out to be unnecessary, officials told the House of Commons Treasury Committee September 14. Committee Chair Nicky Morgan asked Jim Harra, HMRC’s director general for customer strategy and tax … Continue reading HMRC flags potential costs of Brexit contingency planning

UK invites feedback on tax measures for 2018

HM Treasury and HM Revenue & Customs are consulting on draft legislation for the UK’s next finance bill, which will form part of the 2018 Finance Act. Eight consultations were published September 13, a day after members of Parliament approved the second finance bill of 2017, which will now proceed to its committee stage. The … Continue reading UK invites feedback on tax measures for 2018

UK lawmakers approve finance bill as Brexit overshadows debate

Members of Parliament approved the UK’s second finance bill of 2017, voting 320 to 299 after six hours of debate at the bill’s second reading September 12. The bill will now proceed to its committee stage in October, after a three-week recess for the annual political party conferences. It is expected to become the second … Continue reading UK lawmakers approve finance bill as Brexit overshadows debate

UK tax professionals voice dismay at 665-page finance bill

The complexity of the UK tax code is out of control, and principles of certainty and proportionality are being sacrificed, tax professionals warned after the publication of a 665-page finance bill days before a scheduled debate by members of Parliament ... Draft clauses for a further finance bill, to be published after the autumn budget … Continue reading UK tax professionals voice dismay at 665-page finance bill