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HMRC collects £560 million in one year from offshore tax avoidance

HMRC collects £560 million in one year from targeting those with undeclared offshore tax liabilities, HMRC’s much talked about powers under the Requirement to Collect rules with the increased possibility of criminal prosecution came into effect on 30 September 2018, with those individuals with unpaid offshore tax coming under investigation. The results are already positive from the historic focus on tax compliance with respect to offshore assets, and HMRC’s Offshore, Corporate and Wealthy unit have collected £560 million from 827 British taxpayers in the last year. This is a significant increase from the 2016/17 tax year where only £325 million was recovered. 30 September 2018 was also the c

FTT Ruling states that HMRC are not required to disclose discussions with foreign tax authorities.

In a dispute between a British taxpayer and the HMRC, the First- tier Tax Tribunal (FTT) has ruled that HMRC are not required to disclose information from discussions with a foreign tax authority. The ruling by the FTT on the Kevin McCabe v HMRC [2019] TC7145 case, where Mr. McCabe was trying to establish proof of residency in Belgium to avoid the payment of UK taxes, stated that the documents relating to a “mutual agreement procedure” (MAP) with the Belgium Tax authorities did not need to be submitted. MAP was introduced to improve the dispute resolution process and to enhance the timescales when processing and completing the administration requirements under a tax treaty process. Mr. McCab

Late filing penalties totalling £860 million are issued by HMRC as payments increase by 24% from las

HMRC have issued penalties totalling £860 million to taxpayers who were late filing their tax returns or paying their tax liabilities. This represents an increase of 24% from the £694 million received in 2017-18 tax year and an even larger increase from the £667million the year before. Resulting perhaps from the current economic climate it is thought that around 700,000 taxpayers missed the original January 31 deadline for the filing of returns and payment of tax. Failure to file your return by this date triggers the automatic £100 fine and from 1 May 2019, additional penalties of £10 per day, up to a maximum of £900 for outstanding returns still not submitted by that date. Penalties for fai

HMRC to give special notification of new 30-day CGT rules on property disposal

Everfair Tax have seen an influx of new clients, who whilst living abroad were unaware of the requirement to report and pay Capital Gains Tax on UK property sales within 30 days. The concerned clients had been issued with late penalty notices by HMRC which Everfair Tax then successfully appealed. The ongoing problem of oversees landlords being unaware of their UK tax obligations has been noted by HMRC, with many of the late payment notices being overturned at tribunal, due to the insufficient publicity of the reporting requirements. Now with the requirement to report and pay Capital Gains Tax within 30 days of disposal being extended to cover property sales for UK residents in April 2020, t

HMRC to provide online complaints process by Autumn 2019

In response to controversy over the long waits on its helplines and with pressure from MP’s, the HMRC has committed to providing online complaints facilities for taxpayers by Autumn 2019. Currently taxpayers escalate their complaints about HMRC and the Valuation Office Agency (VOA), to the Adjudicators Office (AO) to get an impartial hearing, but can only complain in writing by post, or fax, or by making a phone call. Whilst playing a vital role in resolving complaints against HMRC, getting in contact with the Adjudicators Office is often difficult and many are not aware of the services they provide. And, with complaints taking the form of incorrect deductions or wrong tax codes, taxpayers

HMRC confirms it is using social media to help identify tax evaders

In 2008 HMRC introduced its Connect computer system, which collects, analyses and stores huge amounts of data, in the bid to identify the individuals that are not paying their correct tax quotas. It is therefore not surprising that in September 2018 HM Revenue & Customs confirmed that it will “observe, monitor, record and retain internet data,” but what does this really mean? Personal social media information is now being used by HMRC as an additional information source to trap tax fraudsters. In addition to it’s other ‘open source’ information such as internet sites, Companies House, land registry records and news reports, the internet data that is available on sites with no privacy settin

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