Revenue releases draft regulations on tax schemes

Article Abstract:

The issue of the proposals on disclosing tax schemes to the revenue authorities is addressed. The draft regulations that changed the proposal to cover the seeking of an advantage relating to income tax, capital gains tax (CGT) or corporation tax, in the Finance Bill 2004, are highlighted.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Financial Regulation & Reporting, Financial disclosure

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Employment taxes update

Article Abstract:

Revenue and Customs has set up a tax evasion hotline for reporting information about invasion of income tax, capital gains tax, inheritance tax and national insurance. This helps the employers whose competitors offer self-employed contracts to those whom the Revenue regard as employees.

Tax evasion, Financial statements, United Kingdom. Her Majesty's Revenue and Customs

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The taxman's view

Article Abstract:

People avoiding tax obligations face risks to both finance and reputation. Anti-avoidance activity includes encouraging the widespread adoption of good compliance and improving the Revenue's legislative, investigation and litigation processes.

Company legal issue, Investigations, Tax planning, Taxpayer compliance

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