‘Failure to Correct’ – a whole new world
Amit Puri explains in this recently published Taxation article the passing of the Requirement to Correct deadline and the implementation of FTC penalties.
Entries by tsdesigns
Consultation: Extending HMRC’s Information Gathering Powers
HM Revenue & Customs’ (‘HMRC’) recent proposals to amend their civil information gathering powers come with a timely reminder of what their powers currently are and how advisers should ensure that HMRC do not overstep the mark. This article briefly summarises HMRC’s powers for requesting information they consider they need and how they propose to […]
Extension Of Time Limits For Assessments
Extension of time limits for assessments involving offshore matters: Income tax (IT), capital gains tax (CGT) and inheritance tax (IHT) On 6 July 2018, HMRC published draft legislation on the extension of statutory time limits to raise formal assessments. The new legislation notably affects ‘non-deliberate’ behaviour resulting in a loss of IT, CGT or IHT […]
Sikh Channel interviews Amit Puri
Amit Puri, Tax Director at Pure Tax, talks to the Sikh Channel in a televised interview. He candidly talks about his formative years at HM Revenue & Customs (“HMRC”) as a Tax Inspector, before moving into private practice and putting his specialist skills in to commercial use to support entrepreneurs and businesses during difficult times […]
Amit Puri considers the impact of the Common Reporting Standard
Amit Puri, Tax Director at Pure Tax, considers HM Revenue & Customs’ activities following its receipt of rich banking/tax information from around the world under the Common Reporting Standard. He provides a steer on what advisers and taxpayers should be considering ahead of the deadline date of 30 September 2018 to make voluntary tax disclosures […]
Clients reminded of EBT & EFRBS Settlement Deadline
Clients who used EBTs, ERTs, EFRBS or similar structures only have until 31 May 2018 to register their interest in settling their tax position with HMRC. If not, they face losing the settlement terms currently on offer and further strong action from HMRC. Currently, settlements can be negotiated for various users of “Disguised Remuneration” (DR) […]
Tackling Tax Avoidance, Evasion and Non-Compliance
HMRC have recently published a paper entitled “Tackling Tax Avoidance, Evasion and Non-Compliance”, which details over 100 measures introduced by the Government since 2010. These are summarised in an appendix to the paper but fall broadly within the following four areas:
Brexit – a brief review of the possible economic and tax impact
With the result from the UK’s EU referendum still reverberating loudly in our ears, the political ramifications have been swift and brutal. We now have a new Prime Minister, with a largely new Cabinet, who have the monumental task of trying to unpick the UK’s
UK Property Taxes – A Review of the Recent and Upcoming Changes
Recent Budgets have not been kind to buy-to-let landlords and property investors in terms of their UK property taxes liability. Tax changes of seismic proportions are being phased in
