Recent changes in HMRC’s Risk Assessment process means that a company or partnership that fails to address the Corporate Criminal Offence (CCO) requirements could find themselves facing annual enquiries into their tax affairs. The CCO legislation was introduced just over...
The Government has used the Autumn Budget to again send a clear message of its commitment to tackling tax avoidance and tax evasion especially in relation to offshore structures. The Government will soon be publishing the responses to a consultation document...
Thursday’s 26 October 2017 episode of EastEnders showed that loveable rogue Billy Mitchell was the subject of a HMRC compliance visit. Many of the businesses on the show are portrayed as family owned and managed and Billy is a Partner...
One sometimes wonders whether the Government has taken its inspiration from George Orwell’s 1984 or whether it is a symptom of HMRC’s decreasing staff resources but, increasingly, we see legislation that places the burden upon taxpayers to confess all their...
When does it start and who can use it? On the 5th of September 2016, HMRC finally published details of its new disclosure facility; the Worldwide Disclosure facility (WDF), which will run from the 5 September 2016 to 30 September...
In the past few days HMRC have begun to provide some limited details of the next - and long promised - offshore disclosure facility. Referred to as the Worldwide Disclosure Facility or WDF, the disclosure facility will be open to...
This has been such a year for astonishing events – what with Brexit, Prime Ministers and party leaders resigning left, right and centre, along with terrorist atrocities, attempted coups and disasters on a scale that previously might not be imagined...
In the wake of the Panama scandal, the UK will now bring forward its plans to introduce a new criminal offence for corporations which fail to prevent their staff from facilitating tax evasion. These proposals were first raised at the...
As confirmed at the Autumn Statement, the government has decided to press ahead with a new criminal offence for significant cases of offshore tax evasion. The commencement date is not yet known, as a number of other changes in relation...
Following earlier scandals, it is not surprising that Finance Bill 2016 introduces new civil penalties for individuals or businesses that deliberately assist taxpayers in evading tax by hiding assets, income and gains offshore. The penalty can be up to 100%...
Tougher civil measures are being introduced by Finance Bill 2016 to act both as an increased deterrent against offshore tax evasion and as a sanction where such evasion takes place. The commencement date of these new provisions has yet to...
The Autumn Statement contains what appears to be a quiet climb down by HMRC on a proposal to treat offshore evasion as automatically giving rise to a criminal offence. Instead HMRC appears to be contenting itself with a punitive –...
Today, the Finance Ministers from 51 countries and jurisdictions have signed a Multilateral Competent Authority Agreement on the implementation of the Global Standard for the automatic exchange of financial account information. The signature of the Multilateral Convention on Mutual Administrative...
The Government has decided that a new ‘strict liability’ criminal offence should be introduced for those failing to declare taxable income and gains arising offshore. This statutory presumption of guilt is highly controversial as it means that HMRC will not...
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