One million people renew their tax credits
Thousands of people have already used the tax credit online renewal service in the early hours of the morning, new statistics reveal today.
HMRC wins millions from Abbey National avoidance case
HMRC has won a major tax avoidance case against Abbey National Treasury Services PLC (ANTS) and Cater Allen International Ltd (CAIL), protecting more than £16 million for UK taxpayers after the courts decided against their attempt to avoid paying corporation tax on the interest on floating loan rate notes. The ruling will protect over £86 million, as four similar cases were awaiting the ruling.
HMRC urges contractors and freelancers to settle tax bills
Contractors and freelancers only have until the end of June to register for the Contractor Loans Settlement Opportunity (CLSO), HM Revenue and Customs (HMRC) warned today.
Ten things you need to know about the Contractor Loans Settlement Opportunity
The Contractor Loan Settlement Opportunity (CLSO) is available for anyone who engaged in a Contractor Loans scheme before 6 April 2011. These were marketed as tax avoidance schemes, but HMRC has made it clear that these schemes do not work.
Landmark ruling protects £260m in VAT fraud case
A landmark VAT fraud case has been won by HM Revenue and Customs, protecting as much as £260m of taxpayers’ money.
Tax credits error and fraud reduced to an all-time low
Error and fraud in the tax credits system has been reduced to its lowest level since tax credits were introduced in 2003.
HMRC urges everyone to renew their tax credits early and online
HM Revenue and Customs (HMRC) is urging people to renew their tax credits claim online as soon as possible ahead of the deadline in July.
Week left for solicitors to settle tax bills
Solicitors have a week to pay the tax they owe on undeclared income or face hefty penalties, HM Revenue and Customs (HMRC) warned today.
HMRC investigates suspected Money Laundering Regulations breaches
Five properties in The Lothians and Fife, the registered addresses for around 1,500 companies, were searched yesterday morning by officers from HM Revenue and Customs (HMRC). The searches are part of an investigation linked to suspected Money Laundering Regulations breaches and illegal film distribution.
Clothing giant Next loses tax avoidance case
High street retailer Next has been hit with a £22.4m tax bill after a court ruled the firm’s complex tax scheme was artificial tax avoidance.
HMRC scores hat trick of avoidance wins
HM Revenue and Customs (HMRC) has secured three tribunal wins against tax avoidance schemes, protecting over £260 million in tax.
Government ramps up efforts to tackle digital multinational tax risks
HM Revenue and Customs (HMRC) has today confirmed it is working with five other tax authorities to share information about how digital multinationals might be shifting their profits to tax havens.
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