HMRC are set to implement agreements between the UK and a number of overseas jurisdictions to adopt a common reporting standard on financial account information.
A consulation document, Implementing Agreements Under the Global Standard on Automatic Exchange of Information to Improve International Tax Compliance, seeks views on the measures.
HMRC is planning to shore up the disclosure of tax avoidance schemes (DOTAS) regime through a series of revamps and additions.
A consultation document published by the tax department puts forward options on how to improve the information provided through DOTAS and how to support the new accelerated payments rules.
The main proposals centre on changes to:
HMRC are offering users of contractor loan schemes the chance to avoid litigation over their tax affairs.
The schemes are complex arrangements by which individuals sign an agreement of employment with an offshore employer. They receive remuneration in the UK, through an offshore company or trust, in supposed non-taxable loans, rather than income.
Last week’s debate on transparency looked at ways to restore trust in the tax system
Looking ahead to Scotland’s land and buildings transaction tax
HMRC drop anti-avoidance plans
A view of the tenth and last Finance Bill debate sitting
MP Hodge attacked over report on tax breaks
W Ferguson (TC3562)
Make sure HMRC’s search warrants are precise and intelligible
Half-term report on two offshore initiatives
R, A and M Gardiner (TC3550)
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