HMRC has announced several new taskforces to investigate tax evasion in specific commercial and geographical sectors. The taskforces bring together various compliance and enforcement teams for what are delightfully (or frighteningly!) called intensive bursts of targeted activity, typically focusing on 300 of the highest risk cases. The new taskforces are: Property rentals in East Anglia, […]

If your company is considering raising funds via this new tax-related investment opportunity, a fundamental issues that needs to be addressed is whether the activities of your company makes it a qualifying company for this purpose. This is often (but not always) clear and HMRC will give advance assurance of this on application. They have […]

These will come into effect from 6 April 2013. If you are thinking of leaving the UK or coming to live here, now is the time to see exactly what impact the new rules will have. Your tax residence status is fundamental in determining your UK tax exposure and, in turn, will influence the tax […]

We have mentioned this before, but the impact will fortunately be far less than feared; in particular, charitable donations will be unlimited and you will continue to get tax relief at your top rate on them. This capping of tax reliefs from 6 April 2013 is still something which needs to be considered, as you […]

As always, these campaigns are aimed at encouraging people to come forward about any previously undeclared income, promising that such action will result in a far lower penalty than if HMRC come knocking on their door. The Tax Return Initiative is aimed at 40% and 50% taxpayers who are required to complete a tax return […]

There are proposals for enhanced corporation tax reliefs from 1 April 2013 which target businesses in the animation, high-end TV and video games industries. The aim of such reliefs is to make the UK the technology centre for Europe and avoid the risk of under-investment in those sectors. The rate of relief is expected to […]