Tag: HMRC Digital Disclosure Service

Enablers of Abusive and Defeated Tax Avoidance Schemes
HMRC

Enablers of Abusive and Defeated Tax Avoidance Schemes

Tax arrangements are said to be abusive when, they could not possibly be considered as a reasonable course of action in accordance with the provision of the relevant taxation laws. In addition to this, the arrangements can only be defeated in case the tax advantage claimed, through a taxation document submitted to HMRC has been counteracted.

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Everything You Need to Know About the April 2019 Loan Charge

As seen in the dispute between HMRC and Rangers football team in 2017, the former can argue that all loans are subject to the rules of PAYE being made upfront, supplementary to the charge itself. Essentially, HMRC will always prefer taxpayers to avoid dispute and follow the course settlement, as this is the easiest and requires the least resources from government.

April 2019 Loan Charge
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April 2019 Loan Charge Tax Avoidance

If you have an EBT Loan and it is not paid back by 5th April 2019, then you may be liable for PAYE on the outstanding amount. This applies to any EBTs implemented from April 6th 1999.

HMRC Tax Disclosure Schemes Digital Disclosure Service
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Digital Disclosure Service | HMRC Tax Avoidance

HMRC computer system Connect cross-checks its database of companies against the taxes they have declared, and any discrepancies can lead to the tax office writing to you to chase up unpaid taxes. Once this happens, you will be looking at a fine of anywhere up to 200% of the tax you owe.