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July 28, 2021
HMRC provides Clarity on Penalty Regime for Deferred Value Added Tax
HMRC has confirmed that the penalty regime related to non-payment of Value Added Tax (VAT) due to the deferred VAT scheme is now in place. The said VAT scheme was introduced at the beginning of the COVID-19 pandemic.
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March 4, 2019
Increase in Recovery of VAT on Financial Services in No Deal Brexit
In event of a no deal Brexit, the government has planned to make some changes to the VAT legislation to allow business entities in the UK to reclaim Value Added Tax on supplies of specific financial services made to ...
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February 28, 2019
HMRC Issued a Petition for Winding up to Notts County Football Club
English football club Notts County which is currently sitting at the bottom end of League Two, recently revealed that it has received a petition for winding up over unpaid tax from the HMRC
The football club has ...
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November 19, 2018
London Grocer Found Guilty in £120k VAT Fraud
A London based individual found guilty of setting up fake business entities, including a holiday villas firm and a jewellery shop as part of VAT fraud of £120,000 has now been sentenced to serve jail period of three ...
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October 23, 2018
HMRC Enquiring English Premier League Clubs and Players Over Potential Tax Avoidance on Sale of Players’ Image Rights
HMRC is enquiring more footballers and their agents regarding allegations of potential tax avoidance with respect to players’ image rights.
Currently 171 football players, 44 English premier league and Football L ...
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May 25, 2018
VAT Fraud Leads Father and Son Duo to Jail
A father and son duo has been handed over to the UK by the authorities in Spain after they were caught in Spain for stealing around £1m in VAT.
Jamie Colwell was given prison sentence of 5 years and 3 months while ...
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April 2, 2018
Mechanic Ordered to Pay Back £208k with Respect to a Tax Fraud
HMRC commenced investigations against Lain Wilson, a mechanic by profession from East Kilbride for suspected undercutting of his income in his tax returns and engaging in tax evasion.
The investigation carried out ...
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September 12, 2017
Large Businesses Tax underpayments increases by 13% to £25bn
As per the recent analysis carried out by the law firm Pinsent Masons, the amount of tax which the HMRC suspects to have been underpaid by large businesses has risen to £24.8bn, an increase of 13% when compared with ...
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September 11, 2017
OECD Releases Compliance Ratings on Tax Transparency
A total of three jurisdictions have been judged to have shown compliance with international standards for the exchange of information on request between tax authorities as per the results of a new and improved peer ...
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August 28, 2017
LITRG urges to Act Fast on Missed Tax Credit Renewals
The Low Incomes Tax Reform Group (LITRG) is urging all the taxpayers to get in contact with HMRC if they fall in the list of people who missed the renewal deadline with regards to their tax credit.
There was a ...
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