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A former bank executive has been convicted in the US for failing to comply with the Foreign Account Tax Compliance Act (FATCA) as a result of a 'sting' operation conducted by an undercover agent . 17 Sep 2018
The amount of extra tax collected by HM Revenue and Customs (HMRC) following investigations by its specialist fraud team increased by £300 million last year, primarily driven by an increase in civil investigations. 12 Sep 2018
UK taxpayers who have underpaid income tax, capital gains tax or inheritance tax involving offshore matters must correct past non-compliance before 30 September 2018 or face penalties which could be as much as two or three times the unpaid tax. There is also...
A person or company can penalised if they 'enable' offshore UK tax evasion or non-compliance by others. Policies and procedures designed to prevent companies from committing the corporate criminal offences of failing to prevent the facilitation of tax evasion...
This guide was updated in December2017
The Common Reporting Standard (CRS) is a way for countries to automatically exchange information about non-residents holding bank accounts and other financial accounts offshore. By September 2018 over 100 jurisdictions should be making annual exchanges...
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) 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 scheme...
Documents submitted to the tax chamber of the UK's First-tier tribunal (FTT) can be made available to parties not involved in the litigation on the basis of the common law principle of open justice, a judge has confirmed. 12 Sep 2018
The UK's HM Revenue & Customs (HMRC) will "observe, monitor, record and retain internet data" which is available to everyone, including blogs and social networking sites where no privacy settings have been applied, it has specifically confirmed in an update... 06 Sep 2018
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High and Ultra high net worth individuals, non UK domiciled individuals, 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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