HMRC has begun a detailed review of its business records checks programme, having recognised that the project would have benefited from more detailed consultation.
Aileen Barry reviews the top five tax developments in 2011 affecting investigations
‘Up to ten companies are facing a judge-led investigation into their tax settlements amid growing concern over the way Revenue & Customs polices the City.
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.