HM Revenue and Customs (HMRC) has defeated an artificial tax avoidance scheme involving the Brain Disorders Research Limited Partnership and Neil Hockin (a partner), after the First-Tier Tribunal ruled against the users’ attempts to claim £29 million in tax relief. The investors claimed to have spent £122 million on research, when in fact only £7 million reached the genuine research company.
Alcohol wholesalers need to start preparing to apply for the new Alcohol Wholesaler Registration Scheme, HM Revenue and Customs urged today.
HM Revenue and Customs (HMRC) announced today that it collected a record £517.7 billion in tax in 2014-15 (an increase of £12 billion on the previous year), as a result of economic growth and the continued crackdown on tax evasion and avoidance.
Offshore tax evaders and the professionals who enable tax evasion will face even tougher sanctions under a new regime to crack down on offshore evaders, Financial Secretary to the Treasury, David Gauke, announced today.
HM Revenue and Customs (HMRC) has launched a new resource for teachers to help their students learn the facts of tax.
Employment agencies have until 5 August to make sure they are complying with new HM Revenue and Customs (HMRC) rules.
Fraudsters are targeting tax credits claimants with scam emails, fake websites and text messages in the run-up to the 31 July renewals deadline, HM Revenue and Customs (HMRC) warned today.
HMRC allocates £45 million to help improve phone and post service HM Revenue and Customs (HMRC) today announced it is allocating £45 million to improve customer service, as it released statistics which showed an inconsistent call handling performance in 2014-15.
HMRC has won a major tax avoidance case against P&O Steam Navigation Company Ltd, after the Upper Tribunal confirmed that the company’s ‘rate-booster’ scheme did not work. Double taxation relief of £14 million has been protected in this instance, with a further £140 million likely from around 20 similar cases.
Thousands of people have already used the tax credit online renewal service in the early hours of the morning, new statistics reveal today.
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.
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.
