“Discovery” assessment defeat for HMRC
HMRC can issue an assessment where an officer discovers that an assessment to tax is insufficient, a discovery assessment, if the officer could not reasonably have been expected to be aware of the insufficiency of the assessment Read More
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New emigrants to the UK from Hong Kong coming to live in the UK – the risks and steps to take
From 31st January 2021, a new British visa is available for Hong Kong British National (Overseas) citizens and their close family members. This serves to highlight a particularly unfortunate tax pitfall that can trip up the unwary. Read more
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Do you know your Bitcoin tax bill?
At the time of writing, Bitcoin is trading at $53,000 (over £37,000).
A few days ago, its value reached an all-time high of $58,000. Other cryptotokens have also soared in value. Read More
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Employee Ownership Trusts – a tax-free exit?
Speculation about an imminent rise in the rate of capital gains tax has led some business owners to accelerate their exit plans Read More
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Follower notices and associated penalties: Take corrective action, or else …..
The follower notice provisions were introduced by FA 2014 and continue to be seen by the government as an important weapon in its fight against tax avoidance. Read More
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HMRC’s “nudge” campaigns: deemed domiciled and non-resident individuals
HMRC’s access to information on taxpayers’ assets, income, and gains, including overseas, is greater than ever due to international agreements Read more
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HMRC domicile enquiries
In this article we take a look at the growing number of domicile enquiries by HMRC, which looks set to increase further following their recent success in the Henkes case, Read More
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Another EBT scheme fails the GAAR panel sniff test – immediate action may be required
As we all know by now, most EBT/EFRBS type arrangements don’t “work” in the sense they are not accepted to deliver the hoped for tax result. Cases such as Oco/Toughglaze and Rangers saw to that, Read more
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HMRC IR35: tips and pointers
We have previously discussed the planned extension of the Off Payroll Working rules to medium and large size employers in the private sector from 6 April 2021. This involves shifting the responsibility that currently exists under IR35 Read More
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Disguised Remuneration and the loan charge: Actions required by 30 September 2020
Following the Finance Act 2020 receiving Royal Assent, and HMRC publishing updated guidance on its settlement terms, users of EBTs, EFRBS and other disguised remuneration arrangements should note Read more
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