May 8th 2017
In its 2014 Budget, the Treasury announced that it would give HM Revenue & Customs (HMRC) power to recover taxes owed by corporate and individual debtors directly from their bank accounts. Issues …
July 18th 2017
The issue of tax avoidance schemes has become widely publicised, particularly over the last 18 months, in part fuelled by the media microscope fixing firmly on the finances of celebrities and multinat…
October 3rd 2017
There has been much made of the Government’s clampdown on what it considers to be corporate tax avoidance in recent years and Accelerated Payment Notices (APNs) are viewed as being a key weapon in …
April 10th 2017
HMRC applies a systemised process of penalties and surcharges when your company defaults on its VAT liabilities. This includes the late filing of your VAT return as well as the payment of tax. The dea…
Changes in the rate of Entrepreneurs’ Tax Relief, due to come into effect in April 2016, are causing a rush to extract profits via Members’ Voluntary Liquidations (MVLs), the solvent liquidation p…
ESC C16 was an extra-statutory concession widely used by company directors when closing down their business. Prior to legislative changes in 2012, ESC C16 allowed directors to follow a closure process…
Tax havens are big business; they are also big news. The release of the ‘Panama Papers’ earlier this year, which saw the leak of 11.5m files from the database of the fourth biggest offshore law fi…
March 15th 2017
Tax avoidance can be described as bending the tax rules rather than breaking them, or exploiting loopholes in the tax laws. HMRC has been instrumental in recent years in bringing about significant cha…
A corporation tax liability refers to the legal obligation for a limited company to pay tax on its annual profits. As a director you must register your company with HMRC for corporation tax, and pay t…
As part of the government’s anti-avoidance measures, for the last few years HMRC can collect the tax they believe is due from tax avoidance schemes previously assumed to be compliant by their users.…
May 8th 2018
By issuing VAT security bonds, HM Revenue and Customs reduce their risk of revenue loss from non-payment. In certain instances, such as when an insolvent company is bought out of administration by the…
May 13th 2019
Time to Pay arrangements (TTPs) enable businesses to pay off arrears of tax and National Insurance over an extended period of time, limiting HMRC penalties and allowing for recovery of commercial momentum.
January 6th 2020
The new IR35 rules that come into effect from April 2020 will change the way in which contractor status is determined when working with medium and large organisations in the private sector. New legisl…
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