This is an important update about proposed legislative changes relating to the Government's objective to tax as earnings all relevant pay scheme loans that have not been fully taxed or repaid by 5 April 2019 (the "loan charge"). These changes will have retrospective effect back to 5 April 1999.
UK & Offshore Trusts: Trusts specialist, Ian Barton, breaks down the complex subject of Trusts. He explains what a Trust is and why you would use it, and also explains the different types of trust that exist. He goes onto explain why people use offshore trusts and why they should be used with care.
In this post we will discuss the most recent change announced by Mr Osborne in the 2015 Autumn Statement - the hike in Stamp Duty Land Tax (SDLT): Stamp Duty has risen by 3% for rental properties and second homes.
The Government proceeds to introduce legislative changes to deal with the large number of outstanding cases involving open appeals and enquiries for contractors and scheme providers involving loans as “disguised remuneration” through the use of alleged tax avoidance schemes.
Are you a contractor that has used a tax avoidance scheme? Received an Accelerated Payment Notice? Read our 2015 APN User Guide prepared by our Tax Specialist, Michael Perry to understand the vital points you need to look out for to get the best possible result for your case.
Talent Resource Management Limited went into liquidation on 31 March 2009. Many contractors who had a Section 9a Tax Enquiry for 2006/07 tax year have seen very little development on their case and could feel that the matter is no longer going to pose a problem. However, HMRC have not yet got round to issuing Accelerated Payment Notices (APN) on non-DOTAS schemes such as Talent.
AM Limited also known as AML and Aston Management Limited are still happily trading and providing support to their past and present users that are experiencing problems with HMRC who have been issuing Discovery Assessments and Accelerated Payment Notices.
Most of our clients come from other accountants as they know that a specialist is required in certain circumstances. It follows that you would use a properly qualified specialist for a tax problem that requires specific advice from a practitioner that is familiar with your scheme and has other similar cases. Read more for other reasons for appointing a specialist.
Can you reduce my tax bill? This is a question we get asked a lot. Can you justify your fees? This is a question we also get asked a lot. Recently we reduced Mr W's tax bill by £98,340 and Mr K's tax bill by £78,360. What does this mean for you?
When HMRC wish to litigate a case they normally pick one individual (with a weak case). That individual or more likely the promotor of the scheme or a Firm of Accountants or Lawyers will invite other participants in that scheme to join in a Group Legal Action. But what does this mean?
The chances are that even if you did all your due diligence you find yourself in the "unlikely" situation of a major problem with HMRC that in the extreme could lead to your bankruptcy and publication as a tax defaulter with all the consequences that involves.
Are you an IT Contractor that has used Darwin Pay or IQ Contracts EBT tax avoidance scheme users? If so be aware that time for the Settlement Opportunity is running out! Time is also ticking if you have received your Accelerated Payment Notices (APNs).
If an Accelerated Payment Notice lands on your doorstep one of the questions you should consider is: Do you know what the penalties are for not paying on time? Understanding the answer to this is crucial for deciding how to resolve your dispute.
Sanzar Solutions scheme users scour the web for advice as thousands of contractors receive APNs from HMRC. What should contractors do? Is the Settlement Opportunity still relevant? What to consider once in receipt of an APN?
This weekend saw thousands of Advanced APNs landing on doorsteps of Edge Consulting Limited EBT scheme users. APNs will be issued in a matter of weeks for payment within 90 days. What should you do if you receive an APN?