HMRC have sent letters intended to discourage taxpayers’ use of avoidance measures.
The taxman wrote to those whose names appeared on client lists of schemes for the period October 2013 to December 2013, the contact details having been provided by promoters as part of DOTAS requirements.
The US tax authority, the Internal Revenue Service (IRS), has announced a relaxation of enforcement and administration of the due diligence, reporting, and withholding provisions under FATCA for 2014 and 2015 for entities that have made “good faith efforts to comply” with the regulations. (See IRS notice 2014-33 Further Guidance on the Implementation of FATCA and Related Withholding Provisions.)
As more farming clients are making significant trading profits, the potential advantages of incorporation must be considered. Advice is required on the herd basis aspects
J R Swanston (TC3350)
Even tribunals and courts can have difficulty differentiating between reality and fantasy
Issues relating to follower notices and accelerated payments in cases of marketed avoidance
Hok Ltd and other reductions of individuals’ tax rights
Standfast Corporate Underwriters Ltd (TC3322)
Advisers can be reassured by the Court of Appeal’s judgment in Mehjoo
H Mehjoo v Harben Baker (a firm) and Harben Baker Ltd, Court of Appeal
The new tax and National Insurance (NI) rules on offshore employment intermediaries will take effect from 6 April.
With regard to offshore intermediaries:
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