Good to see my quote in the Best of FT Money 2017. HMRC are getting better and catching tax evaders and avoiders. If you need to make a disclosure to HMRC or are under enquiry feel free to get in touch

#HMRC have commenced a One to Many nudge letter campaign directed at #offshore corporates who owned #UK residential #property > £500,000 but reported consecutive losses on their #selfassessment returns from their rental income + those that may not have filed #ATED returns at all. To qualify for rental business relief, the business should be run on a “commercial basis”, “with a view to profit”. If properties have been occupied by “non-qualifying individuals” (ie connected to the company), then rental business relief will be restricted or denied. If the company determines that it owes ATED liabilities, it should disclose this to HMRC and file the necessary returns. If it believes it qualifies for #QPRBR, it should submit supporting documentation to HMRC. Or, if it has not submitted the required returns, it should do so immediately to avoid penalties.

Potential #VAT reclaim opportunity for low #carbohydrate drinks following #UK #tribunal decision. In the first published case on the meaning of #sportsdrinks, the tribunal has found that where the product is marketed to enhance performance, accelerate recovery or bulk build it should charge VAT. #tax #sports #personaltrainers #gym #taxman #HMRC @Pinsent_Masons

Second-hand #car dealer faces £600k #VAT bill + penalties because he could not find records and did not engage with HMRC. In 2014, #HMRC offered Noonan the chance to make a disclosure under the Contractual Disclosure Facility (#CDF), stating that a #criminal investigation would not be carried out if he made a full disclosure for the whole period in question. Judge Gauke said: ‘The position in which Mr Noonan finds himself is also a result of his failure to complete the steps which he was required to take under HMRC’s disclosure facility, the CDF. ‘We are satisfied on the evidence that Mr Noonan had ample opportunity, extending over many years, to provide figures which he considered more accurately represented his true liability, and he should have been in no doubt that HMRC required him to do this.’ #tax #fraud #taxfraud #evasion #taxman #COP9 #codeofpractice9 via @accountancylive

Losses on realised gains should be claimed on tax returns and can be carried forward if not used in the year against other gains. For historic losses, if HMRC open an investigation then these should be available as well. Some buying and selling costs can be claimed according to #HMRC's guidance CRYPTO22150 #uk #taxman #crypto

#HMRC hikes interest rate for late tax payments to 4% above the #BankofEngland base rate from April 2025 (meaning 8.75% on current rates)! Therefore late tax payments will receive a hefty cost on top of late payment penalties. This seems more like a fine rather than financial restitution, with no bank account or property growth receiving these levels of returns. It is unfair for people who are in negotiation with HMRC - these discussions can take some time. #tax #taxreturns #selfassessment #taxman #uk

The Treasury has stopped controversial plans to collect information about the exact hours worked by every employee in #PAYE returns because it will be expensive and difficult to implement. The measures could have helped #HMRC prevent #fraud eg with some fake employees or spouses with limited roles on #payrolls. But #dividend reporting to go ahead from 6 April 2025 with the inclusion of information about directorships, close #companies and dividend income in personal #taxreturns. In addition, dates of commencement and cessation of business activities will have to be included in personal, trustee and partnership returns. #uk #tax #taxman #employers #employees #directors #taxfraud #COP9 #CDF

From Boardrooms to Beaches: The Rise of “Work-From-Anywhere” #Employment in 2025. #Employers must consider payroll, permanent establishment, #tax residency and social security implications, as well as opportunities to commit #fraud. #PAYE #NIC #HMRC #uk #employees

Government launches another #loancharge review: Ray McCann has seen “luxury properties bought by #employee benefit trusts in the #Bahamas"…but #HMRC should have “been more aware of the difficulty thousands would have in reaching a settlement”. "HMRC had the Morse Review foisted on it". Others are more critical: “HMRC possessed intelligence about these schemes but did not act. The loan charge scandal represents a profound breakdown in responsible tax enforcement, where victims were punished while the architects of the schemes escaped unchecked and have been allowed to thrive.” #tax #taxman #uk #contractors #freelance @AccountingWEBuk

statement from @jamesmurray_ldn re the review of the #loancharge. Some welcome the announcement, whilst others question whether it is genuinely "independent" and whether it goes far enough. Is it just going to review the settlement terms? or will it review #HMRC's right to use retrospective legislation when enquiry windows were closed and some taxpayers had been missold advice. #tax #taxman #disguisedremuneration #taxavoidance #employees #employers #contractors #freelance

"#HMRC’s performance drops to a new low." -There were only 344 #criminal #prosecutions for #taxfraud in 2023/24, down from 691 in 2019/20 -the number of investigations into serious #taxavoidance has fallen to a 6-year low. Yield from compliance activities in 2023/24 was 23% higher in the previous year. -HMRC’s concentration on chasing new debt comes under fire-it is not effectively pursuing older debts. It may fail to collect 45% of liabilities. In 2023/24 £5bn of debts were written off as uncollectible, an increase from £3.2bn the previous year. -On the plus side, in the recent Budget, funding for an extra 1,800 more debt management staff was promised. #taxman #tax #uk #fraud #evasion #compliance #evasion #taxevasion #selfassessment #taxreturns #CPS @AccountingWEBuk

#HMRC has denied running a "deliberately poor" phone service in an attempt to push #taxpayers to seek help online instead. Nearly 44,000 customers were cut off without warning after being on hold for more than an hour last year, a report by a committee of MPs has found. #uk #tax #taxman

RT @fromCarterSlade: At first they ridiculed, then they tried to outlaw, now finally they’re embracing #Crypto. Old school finance wakes up…

#HMRC's poor digital services are causing woe for #taxpayers + still do not address their needs, especially complex problems. This will lead to errors + fines. "HMRC’s webchats only appear to connect 49% of the time + the resolution rates of queries submitted in this format is only 21%.” "some of HMRC’s online forms are so badly designed that they create additional work, for taxpayers, their agents, and for HMRC." "The restricted access to HMRC telephone helplines is also a problem. some issues require talking directly to a person to resolve." "Unfortunately, HMRC have sometimes closed down their phone lines so that they can transfer those staff to address backlogs in the system". #taxman #uk #tax #selfassessment @LondonLovesBiz @CIOTNews @ICAEW #CIOT #ICAEW

#Employment Bill ignores umbrella #companies, warns #REC chief, especially around #Payroll practice: ‘We would like to see the kind of regulation of the Employment Agencies Act, and the employment regulations brought to employment businesses brought to #umbrella companies as well.’ #IR35 #HMRC #uk #government #employees #freelance #contractors via @accountancylive

With customer service at an all-time low, #HMRC is advertising for a £130k #director of transformation to overhaul and transform customer service levels at tax authority, in particular the phone lines. #tax #taxman #uk #civilservice #government

Approx 750 #Doctors face late #taxreturn penalties after #NHS pensions blunder- incorrectly calculated their #pension contributions.. "affected scheme members should complete their #selfassessment before the normal deadline of January 31. #HMRC has confirmed that there will not be a financial penalty if the figures provided are incorrect, as long as they have been corrected within a year of the deadline." #eployees #employer #taxman #uk #hospital #medicine #tax

Another measure #Sánchez proposed to tackle the housing crisis in #Spain includes higher taxes on #Airbnb-style #holiday rentals. @FT #tax #property #realestate