HMRC has updated its FAQs on the agreement signed on 6 October.
European Commission lawyers have concluded that the UK’s controversial tax agreement with Switzerland is in breach of EU law, the Financial Times has reported, and Brussels is ‘threatening to sue’ the UK unless the deal is significantly altered.
Lawyers acting for a group seeking to challenge a settlement reached between HMRC and Goldman Sachs have told the department that its ‘ongoing delay’ in dealing with the claim is ‘unacceptable’.
HMRC has issued a ‘final warning’ to 2,500 health professionals that if they do not come forward within 21 days HMRC will ‘make a determination’ or refer them for possible criminal investigation, the Chartered Institute of Taxation said.
A new team of ‘highly-skilled offshore analysts, technical tax experts and experienced investigators’ will work to ‘identify and pursue’ those who hide income and capital in offshore accounts to avoid UK taxes, HMRC announced.
A former policeman was jailed for his part in an attempted £330m VAT fraud, the largest of its kind in the UK. Nigel Cranswick and five others were caught by HMRC investigators after claiming that their new business Ideas 2 Go Ltd sold more than 6m mobile phones in eight months.
‘Business is “seriously concerned” about the risk of a backlash from the handling of tax avoidance disputes, according to the CBI, as it stepped into a row over the Revenue’s dealings with big companies.
MPs are set to consider whether to ‘formally call’ for Dave Hartnett to step down as HMRC’s top tax official over his handling of disputes with large companies, The Times has reported.