Attack on schemes threatens growth, warns tax expert
Savva and others (TC2625)
British overseas territories with significant financial centres have signed up to the government’s strategy to create global tax transparency.
An invitation to improve parliament’s understanding of tax, in light of the latest report on avoidance
Proposed changes for anti-avoidance rules relating to offshore structure
Platform will follow progress of plan against evasion
Figures show major increases in prosecutions and distraint
Overview of HMRC’s latest offshore initiatives against evasion and avoidance
HMRC have added another section to their website’s Spotlights area, which focuses on tax avoidance arrangements the department believes do not work. The latest is, numbered 18, concerns stripped bond schemes.
The First-tier Tribunal ruled in the Revenue’s favour in Malcolm Healey TC2591 and Philip Savva TC2625, two cases involving similar products marketed by banks as investments.
Land Securities plc v CRC, Upper Tribunal (Tax and Chancery Chamber)
It is time to reconsider the taxation of life insurance bonds
An argument in favour of a broader general anti-abuse rule that applies to HMRC as well as to taxpayers
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