http://www.out-law.com/en/ Latest legal news on tax from OUT-LAW.COM, part of international law firm Pinsent Masons en-gb Pinsent Masons LLP Sun, 19 May 2013 04:59:10 +0100 http://www.out-law.com/en/articles/2013/may/hmrc-better-at-applying-tax-law-than-public-accounts-committee-hmrc-chief-says/ http://www.out-law.com/en/articles/2013/may/hmrc-better-at-applying-tax-law-than-public-accounts-committee-hmrc-chief-says/ Tax HM Revenue & Customs (HMRC) must collect the tax that is due under the law and not what the public thinks it should collect and are better at applying tax law than the Public Accounts Committee (PAC), HMRC c hief executive and permanent secretary Lin Homer told MPs on the PAC. Fri, 17 May 2013 12:35:00 +0100 http://www.out-law.com/en/articles/2013/may/hmrc-settlement-with-goldman-sachs-was-lawful-says-high-court/ http://www.out-law.com/en/articles/2013/may/hmrc-settlement-with-goldman-sachs-was-lawful-says-high-court/ Tax A settlement reached by HM Revenue & Customs (HMRC) with Goldman Sachs, the investment bank, which meant that the bank did not have to pay interest was lawful, the High Court ruled in a judicial review brought by campaign group UK Uncut. Thu, 16 May 2013 12:45:00 +0100 http://www.out-law.com/en/articles/2013/may/lords-committee-hears-evidence-from-inquiry-into-how-to-tax-global-companies/ http://www.out-law.com/en/articles/2013/may/lords-committee-hears-evidence-from-inquiry-into-how-to-tax-global-companies/ Tax The House of Lords Economic Affairs Committee heard evidence on Tuesday from the tax directors of multinational companies that falling UK corporation tax and innovations such as the patent box were making the UK a more attractive location for multinational businesses. Thu, 16 May 2013 09:58:00 +0100 http://www.out-law.com/en/articles/2013/may/hmrc-names-and-shames-more-deliberate-tax-defaulters/ http://www.out-law.com/en/articles/2013/may/hmrc-names-and-shames-more-deliberate-tax-defaulters/ Tax Details of fines included on a second public list of tax defaulters shows that HM Revenue and Customs (HMRC) is "cracking down harder than ever before" on businesses and individuals that deliberately underpay tax, an expert has said. Wed, 15 May 2013 09:18:00 +0100 http://www.out-law.com/en/articles/2013/may/focus-on-bankers-bonuses-influencing-reforms-to-other-financial-services-says-expert/ http://www.out-law.com/en/articles/2013/may/focus-on-bankers-bonuses-influencing-reforms-to-other-financial-services-says-expert/ Tax Proposed changes to the rules governing EU investment funds show how public concern over bankers' pay and bonuses is "seeping into other parts of financial services", an expert has said. Wed, 15 May 2013 09:11:00 +0100 http://www.out-law.com/en/articles/2013/may/supreme-court-ruling-on-trustee-mistakes-likely-to-create-uncertainty-says-expert/ http://www.out-law.com/en/articles/2013/may/supreme-court-ruling-on-trustee-mistakes-likely-to-create-uncertainty-says-expert/ Tax A Supreme Court ruling on the circumstances in which courts can set aside decisions made wrongly by trustees is "likely to create uncertainty" due to the subjective nature of the test, an expert has said. Fri, 10 May 2013 16:49:00 +0100 http://www.out-law.com/en/articles/2013/may/hmrc-analysing-data-showing-extensive-use-of-complex-offshore-structures-to-evade-tax/ http://www.out-law.com/en/articles/2013/may/hmrc-analysing-data-showing-extensive-use-of-complex-offshore-structures-to-evade-tax/ Tax HM Revenue and Customs (HMRC) has announced that it is working with the United States and Australian tax authorities on data which reveals "extensive use of complex offshore structures to conceal assets by wealthy individuals and companies". Fri, 10 May 2013 16:45:00 +0100 http://www.out-law.com/en/articles/2013/may/eu-tax-information-exchange-framework-will-be-strengthened-commissioner-says/ http://www.out-law.com/en/articles/2013/may/eu-tax-information-exchange-framework-will-be-strengthened-commissioner-says/ Tax The European Commission plans to strengthen existing rules allowing for the automatic exchange of financial information between EU member states in an attempt to tackle tax evasion, its Tax Commissioner has announced. Thu, 09 May 2013 11:00:00 +0100 http://www.out-law.com/en/articles/2013/may/new-corporate-governance-guidance-for-smaller-companies-published/ http://www.out-law.com/en/articles/2013/may/new-corporate-governance-guidance-for-smaller-companies-published/ Tax Updated corporate governance guidance for smaller companies has been published. The guidance is for companies to which the UK Corporate Governance Code does not apply and focuses on good quality disclosure and the relationship between companies and their shareholders. Wed, 08 May 2013 12:25:00 +0100 http://www.out-law.com/en/articles/2013/may/cbi-publishes-principles-of-responsible-businesses-approach-to-tax/ http://www.out-law.com/en/articles/2013/may/cbi-publishes-principles-of-responsible-businesses-approach-to-tax/ Tax The Confederation of British Industry (CBI) has encouraged UK businesses to engage only in "reasonable tax planning" that "does not lead to an abusive result" as part of a new statement on corporate taxes. Wed, 08 May 2013 09:36:00 +0100