Tax to be paid upfront whilst avoidance schemes investigated

The Treasury has announced that people found to be using tax avoidance schemes will be required to pay tax bills upfront whilst HMRC investigates arrangements. Currently, taxpayers entering tax avoidance schemes are required to disclose this fact to HMRC, at which point HMRC can decide to investigate and challenge it. The new approach will target […]

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HMRC and Employee Benefit Trusts – what contractors need to know

HM Revenue & Customs is under increasing pressure from the government to raise more revenue, with the ambitious target of collecting an additional £7bn a year in tax by 2014/15. Inevitably, as HMRC looks for ways to generate more income by closing alleged tax “loopholes”, their gaze will fall on schemes that have been set […]

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