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HMRC recovered £1.1bn tax from transfer pricing enquiries during 2013/14, double the amount collected the previous year, according to official statistics.

Financial secretary to the Treasury David Gauke claimed the increase was due to the additional funding given to the Revenue “to challenge multinational groups to ensure the rules are followed and the right tax paid”.

The specialist HMRC unit that examines pricing within multinationals has secured a total of £5.8bn in tax since being launched in 2008.

Pension holders are being urged to “scam-proof their savings”, as part of a campaign by the Pensions Regulator, ahead of imminent changes to the law.

Under-55s have been the primary target of fraudsters offering to release pensions as loans or upfront cash.

With new flexibilities set for next month to give over-55s more freedom on how they access their retirement pots, the regulator has moved to alert younger savers and scheme trustees to the risks of pensions swindles.

Employment experts have accused HMRC of misleading businesses about the operating cost of IR35.

Statistics released by the department yesterday suggest UK firms spend an annual total of £16m on administrating the controversial anti-avoidance measure, which is aimed at ensuring freelancers working through their own limited companies pay income tax and National Insurance at a levels similar to those of regular employees.

Employment status

Office of Tax Simplification published its report on employment status. It recommends improvements including better guidance and help on what action a business should take.

Non-residents

Guidance on capital gains tax for non-residents who dispose of UK residential property has been published. The new regime comes into force on 6 April.

E-books are subject to VAT at the standard rate, making them distinct from printed titles with their reduced rate provisions, the Court of Justice of the European Union (CJEU) has determined.

The long-running debate on books’ discrepancy of rates between digital and print went before the court as the result of the European Commission’s infraction proceedings against Luxembourg and France for applying sales tax at reduced rates to e-books of 3% and 5.5% respectively.

Promoters of tax avoidance arrangements could be forced to publicise the fact they are monitored by HMRC, under new rules set to come into force later this month.

The FA 2014 (High Risk Promoters Prescribed Information) Regulations 2015 will allow the Revenue to issue conduct notices to scheme promoters identified by the department as high risk.

Parties that do not comply with directions to alter their behaviour will receive monitoring notices and be expected to make their circumstances clear to prospective customers.

Governments around the world are increasingly turning to indirect taxation to stimulate their economies, according to EY.

A new report from the accountancy giant shows that the rates of VAT and similar sales taxes have risen year-on-year in the aftermath of the global financial crisis. The average standard rate has climbed in EU member states from 19.5% in 2008 to a high of 21.6%, with even low-rate countries like Luxembourg upping their base.

Agent Update

Issue 46 of Agent Update, HMRC’s bi-monthly news roundup for tax advisers, includes details of the Working Together open issues register.

Agreements

The UK has signed first-time comprehensive double taxation conventions with the Republic of Senegal and Algeria. The conventions will enter into force once the countries have completed their legislative procedures.

France gives okay to information-share with agencies outside HMRC

HMRC have published more details on the information that employment intermediaries will be obliged to provide from next month.

Staffing agencies and similar firms will have to submit an online report to the Revenue every three months, providing details of supply workers for whom they do not operate PAYE on payments.

The first report is for the period 6 April to 5 July, and must reach HMRC by 5 August. A template is included in the official guidance, along with instructions on how to complete the form.

HMRC have taken legal steps to clampdown on plant and machinery sale-and-leaseback transactions designed to avoid tax.

The Revenue said it recently became aware of leasebacks that purported to create substantial capital allowances on assets that previously entitled the owner to no allowances.

Legislation is set to be introduced in Finance Bill 2015, with effect from 26 February 2015, to ensure an entitlement to capital allowances cannot be created by leaseback or connected party transaction when an asset is acquired without incurring expenditure.