OFFSHORE EVASION OFFENCE GIVEN SAFEGUARDS
This should ensure that people who make errors over relatively small sums of tax do not get caught by the offence which, for now, will apply just to income tax and capital gains tax
But the Chartered Institute of Taxation (CIOT), which called for safeguards earlier this year, says its main concern on behalf of taxpayers still stands
A taxpayer may fall within the ambit of the offence without any intention or knowledge on their part
The same document states that the offence will be triggered in three ways - failing to notify HMRC of chargeability of tax; failing to file a return and filing an inaccurate return
VAT DOMESTIC REVERSE CHARGE FOR CONSTRUCTION
What is the VAT domestic reverse charge for construction services? The VAT domestic reverse charge for building and construction services, to give it its full title, is a change in how VAT is han ...
NUMBER OF FIRMS REGISTERED AS VISA SPONSORS PEAKS AS EU IMMIGRATION HITS 15-YEAR LOW
The number of UK businesses registered as sponsors for Tier 2 work visas reached a record high in the last three months of 2019, with 28,734 companies on the Home Office register. This is the highest ...
SELF-EMPLOYMENT INCOME SUPPORT SCHEME
What you need to know Who can claim: Self-employed individuals or a member of a partnership (as long as certain eligibility criteria are met, see below). Limited companies and trusts are not e ...
LANDLORDS NEED TO BE PREPARED FOR EVERY POSSIBILITY WITH CGT CHANGES – YOUNG
The age-old question posed by all private sector landlords at any one time is often, ‘what do I do next?’ For most, the answer is staring them in the face, and that continues to hold ...
TIGHTER SELF-EMPLOYED AND AFFORDABILITY RULES HERE ‘FOR SOME TIME’ – HSBC
Tighter self-employed and affordability rules here ‘for some time’ – HSBC Tightened self-employed lending criteria and affordability rules are seen across the mortgage market since ...
SNITCHES GET RICHES: HMRC PAYMENTS TO TAX EVASION WHISTLEBLOWERS UP 63% IN 2019/20
HMRC reported a 63% increase in payments to whistleblowers for reporting tax evasion in the 2019/2020 tax year, paying £473,000 to informants during the period. In the previous tax year HM ...