UK: Coronation Street legend Bill Roache faces massive bill after investing in £500m tax avoidance scheme
By Jeremy Armstrong From Manchester Evening News 288 wealthy investors who put money in the Cayman Islands will now have to cough up Coronation Street actor Bill Roache is set to get a massive bill after investing in a £500m…
The UKTreasury Sub-Committee launches inquiry into tax avoidance and evasion
From Parliament UK Tax Avoidance and Evasion inquiry Inquiry status: open The deadline for written submissions is Thursday 31 May 2018 Scope of the inquiry In recent years, HMRC has taken steps to address public concerns about the actions of…
HMRC shuts down ‘Liberty’ tax avoidance scheme
By Jason Gorringe, From Tax-news.com, London HM Revenue and Customs, the UK tax authority, has welcomed a ruling in its favor against a contrived tax avoidance scheme involving an entity in Jersey and the Cayman Islands. HMRC says it expects…
Cayman Finance attracts many to discuss UK HM Revenue & Customs Criminal Finances Bill
Cayman Finance, in conjunction with the Ministry of Financial Services, Commerce and Environment and the UK’s HM Revenue & Customs, recently held an informational seminar to over 110 attendees on the UK’s Criminal Finance Bill, providing the local financial services…
The most ‘ludicrous’ expenses claims given to the [UK] taxman – from Caribbean holidays to Shih Tzu guard dogs
BYVICKY SHAW From Daily Mirror UK Claims which were also rejected included those for betting slips, Friday night “bonding sessions” costing thousands of pounds and designer clothes HMRC released a list of the strangest expenses claims it received from customers…
Offshore clampdown continues as HMRC protects £365m
By Fraser Simpson From AccountancyAge THE BATTLE between HMRC and offshore tax schemes continues, with the taxman claiming victory in a first-tier tribunal against a Cayman-registered company, protecting £365m of taxpayer money. HMRC disputed the intentions of the Clavis Liberty…
HMRC claims billion pound week with win against Jersey firm
By Richard Hubbard From International Adviser The UK tax office has won a judgement against a limited partnership registered in Jersey, the Clavis Liberty Fund 1 LP scheme, which it claimed had tried to create artificial tax losses. HM Revenue…
Panama Papers: Labour and SNP launch joint tax transparency attack against David Cameron at PMQs
By Ian Silvera From International Business Times David Cameron faced sustained attacks from Labour and the SNP over the staffing levels of the UK’s tax watchdog during Prime Minister’s Questions (PMQs), as the fallout from the explosive Panama Papers leak…
Is it becoming harder for international firms to avoid tax?
By Jamie Robertson & Lucy Hooker Business reporters, BBC News When Google’s European boss, Matt Brittin, appeared before the House of Commons’ Public Accounts Committee on Thursday he faced a wave of indignant questioning from MPs. Since George Osborne applauded…
UK: HMRC grows Affluent Unit in tax avoidance crackdown
By Sam Shaw From International Adviser A sharper focus on offshore banking activity and tax avoidance has seen HM Revenue & Customs grow its Affluent Unit by more than 50% in the past two years. In 2013 the unit had…