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Users of over 1,000 different types of tax planning scheme can now be compelled by HM Revenue and Customs (HMRC) to pay any disputed tax up front, according to experts at Pinsent Masons, the law firm behind Out-Law.com. 23 Sep 2016
UK-based non-domiciled taxpayers contributed £6.57 billion in income tax in 2014/15, an average of £56,589 per non-dom over the year compared to the average of £5,152 collected from the remainder of the population. 12 Sep 2016
The Common Reporting Standard (CRS) is a way for countries to automatically exchange tax information that has been developed by the Organisation for Economic Cooperation and Development (OECD).
The Contractual Disclosure Facility (CDF) is part of a drive in recent years by HM Revenue & Customs (HMRC) to 'crack down' on tax evaders and "close the tax gap". The CDF is the newest incarnation of Code of Practice 9 – a process which is used...
HM Revenue & Customs (HMRC) now has the power to require payment of tax upfront, before a dispute about the efficacy of a tax scheme has been settled by the courts. It can also require payment of tax where it has succeeded in the courts against another...
This guide was last updated in March 2015. The disclosure facilities covered by this guide came to an end on 31 December 2015, so this information is for historical interest only.
This guide was updated in April 2016
The statutory residence test (SRT), was introduced in 2013. It is designed to give taxpayers greater certainty and clarity as to whether or not they are UK-resident for tax purposes and therefore whether or not they are subject to UK income tax and capital...
A tax tribunal has overturned an unauthorised payment surcharge imposed on a financial adviser who transferred his pension savings to an ordinary bank account while he finalised the arrangements for a new pension scheme. 12 Sep 2016
The Inland Revenue Authority of Singapore (IRAS) and the Australian Taxation Office (ATO) plan to automatically share tax data to reduce tax evasion. 12 Sep 2016
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High and Ultra high net worth individuals, non UK domiciled indviduals, shareholders and their trustees and family foundations all need to be able to manage their tax affairs to best effect for their businesses, their families and themselves.
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