Tax, Morality, and a Load of Balls!
I am a Tax Practitioner. As a Chartered Accountant and former Inspector of Taxes, I have always been taught [and sought] to act ethically. Unfortunately, I fear HMRC is at grave risk of becoming dysfunctional. …
HMRC Announces Further Avoidance Powers Consultation – ‘Strengthening Sanctions for Tax Avoidance’
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UncategorizedHMRC has published a further consultation setting out proposals to attempt to punish taxpayers who use a series of tax avoidance schemes, so called “serial use”. The plans propose a surcharge for those who repeatedly …
New Changes Restrict Reliefs for Goodwill But Options Still Remain
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Corporation Tax Tax Planning Capital Gains Tax Company Restructuring Entrepreneurs' Relief Eaves and Co Incorporation ReliefTwo changes were announced in the Autumn Statement to the treatment of goodwill on incorporation, which had immediate effect from 3 December 2014. These were as follows: Entrepreneurs’ Relief is no longer available on a …
Taxpayers Hunted and Lynched
The Blog this week could be described as dark tales from the Brothers Grimm entitled “What happens to those who ignore HM Revenue and Customs…” Do not be too scared! Whilst the Brothers Grimm tales …
Reasonable Excuse – HMRC Publishes List of Worst Excuses, But Are They Ignoring Genuine Cases?
HMRC have released a list of the 10 worst excuses for missing the 31 January tax return deadline, however there are a number of cases where HMRC’s limited definition for what constitutes a reasonable excuse …