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05 June 2018
Put your client admin into motion.
- Remind clients about the Criminal Finance Act 2017 which makes it a criminal offence for businesses that fail to prevent employees or contractors facilitating tax evasion. Do they have reasonable prevention procedures in place.
- Make sure clients understand that HMRC can require security for future PAYE bills if companies have a history of non-payment. However if their compliance history improves the department may consider returning the security.
- The new rules on disclosure apply if the ‘main purpose’ of a scheme is to avoid inheritance tax and it involves contrived or abnormal steps. Disclosure must be made if an ‘informed observer’ would conclude that the relevant conditions are met.
- Consider reviewing property-owning clients to check whether they opted to tax their property for VAT. Is the correct paperwork in place and can they...
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