News

HMRC lacks contingency plan for new online tax repayment system

The HMRC in the UK has boldly decided not to take any contingency measures with the Treasury in the event it should run into complications with the digitisation of the tax system.


UK: Tax avoidance measures brings additional half a billion in 2015

HMRC the UK has released figures showing that as a result of the crackdown on income tax avoidance, an additional £500 million has been collected from 2014 to 2015, according to figures obtained by UK Law Firm Pinsent Masons.


The HMRC are to abolish business record checks

Her Majesty Revenue and Customs will scrap Business Record Checks, which often had been criticized as “cost ineffective” and “poorly targeted”.


Instability regarding the HMRC’s use of ‘reasonable care’ criterion

The Chartered Institute of Taxation and Association of Tax Technicians, conducted a survey, which revealed that members have serious concerns about the HMRC’s tendency to treat taxpayers’ errors as failure to take reasonable care and is inconsistent in its approach.


HMRC in the UK to start direct recovery of tax debt from bank accounts

Going forward, HM Revenue and Customs (HMRC) in the UK hope to improve the figure of total tax owed and unpaid. They will do this by collecting sums owed from tax payment and credit debts directly from borrowers’ bank accounts who have a minimum cumulative credit of £5,000. Additional measures have been included following the consultation.


HMRC: IR35 tax investigations fall to lowest rate in 5 years

The HMRC in the UK has missed its objective to start at least 220 tax evasion enquiries annually as part of its policy to crackdown on camouflaged employment, and in resolved cases, an average of £2,350 has been recovered, compared with £20,000 10 years ago, and on average the tax authorities were investigating…


UK Budget 2015 marks the end of the annual tax return

Chancellor George Osborne has announced the abolition of annual tax returns, stating this has proved ‘complex and costly’ for many UK SMEs and with the new system, information required would be received automatically by the digital tax account.