Tag: Tax Avoidance

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.

Accountants for contractors
HMRC

Accountants for contractors – How we can help

We as accountants for contractors can help you to maintain your accounts, adhere to policies and help you to get a good picture of your finances. We can also help you file tax returns and respond to any queries from HMRC, taking a weight off your shoulders.

tax avoidance
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Contractors | Loan Schemes and Tax Avoidance

These loan schemes come in a number of shapes and sizes. Currency arbitrage is one of the riskier methods. The idea behind it is that through signing up with an off-shore company, and receiving exotic foreign currencies in exchange for loans, that your earnings can be turned into non-taxable foreign exchange gains.

HMRC Common Reporting Standard
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HMRC Common Reporting Standard – An Accountant’s View

This new idea for a global model of automatic information exchange was endorsed by G20 leaders in 2014. To date, over 100 countries have given their public support to CRS, many of whom have also chosen to become early-adopters of the processes.

HMRC TAX FREE LUNCH
HMRC

HMRC TAX FREE LUNCH

At an enormous $530 billion dollar valuation, 70 offices in 40 countries and one of the world’s largest advertisers, Google is the most commonly referenced company that HMRC has provided tax relief to. In 2016, HMRC judged that Google’s tax arrangements were legal and therefore the internet giant did not need to pay any further than the £130m in additional tax for the last 10 years.

IR35 Accountants Approach
HMRC

IR35 Accountants Approach

If you consider how many contractors work for a major public sector body like the NHS, then the logistics of such a task are unfathomable. Most public sectors teams lack the necessary experience and understanding of case law to make a reasonable decision.

Why HMRC Tax Investigation start
HMRC

Why HMRC Tax Investigation start

If the HMRC feels like there could be inconsistencies, or it’s merely looking to ensure that its records are correct, then it could mean that any number of businesses could be subjected to a tax enquiry.