HMRC

EBTs – “Going forward, it is unlikely that any assessments to tax they (HMRC) issue will be anywhere near as generous as was previously available”

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Source: Ogier via mondaq 23 July 2017

“HMRC’s successful appeal against the owners of the now-liquidated Glasgow Rangers FC is likely to lead to further challenges against Employee Benefit Trusts (EBT) and other loan and benefit schemes that have not yet gone through the settlement process, says Employee Incentives specialist Katherine Neal of Ogier.”

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HMRC wins again, ‘brain disorder research’ scheme guilty of tax avoidance

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Source: HMRC 20 July 2017

HM Revenue and Customs has won a legal battle against a tax avoidance scheme, which claimed £122 million was spent on research into brain disorders, when only £7 million of it reached a genuine research company.

The win against Brain Disorders Research Limited Partnership protects taxes worth £29 million.

The organisation said the money was going to research into depression and Attention Deficit Hyperactivity Disorder (ADHD) but they claimed reliefs on artificial loans and large amounts of capital allowances. Read the rest of this entry »

“HMRC collects £4bn through pay now, dispute later rules”

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Source: ft adviser.com 17.07.2017

“HM Revenue & Customs (HMRC) has collected more than £4bn through the ‘pay now, dispute later’ rules for people who have used a tax avoidance scheme.

More than 75,000 accelerated payment notices (APNs) have been issued to people under enquiry for tax avoidance since rules were introduced in 2014.

HMRC has now issued APNs on all the schemes that were already under investigation when the new rules came in.”

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Glasgow Rangers tax case: supreme court rules in favour of HMRC

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Source: the guardian.com

“Companies that paid staff via “contrived” employee benefit trusts have been urged to come forward, after HM Revenue & Customs scored a landmark victory in a tax avoidance case against the former incarnation of Rangers football club.”

“This decision has wide-ranging implications for other avoidance cases and we encourage anyone who’s tried to avoid tax on their earnings to now agree with us the tax owed,” said David Richardson, director general of HMRC’s customer compliance group.

“HMRC will always challenge contrived arrangements that try to deliver tax advantages never intended by parliament.”

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