Beware – Loan Charge discovery letters are on the way!

HMRC are issuing Loan Charge discovery letters to a number of taxpayers still directly affected by the Loan Charge and who received remuneration by way of loans. If you or your clients receive one of these letters, read on to find out more and how you should deal with them.Continue reading “Beware – Loan Charge discovery letters are on the way!”

Latest on UK customers of the Euro Pacific Bank

HMRC are investigating UK taxpayers “connected” to Euro Pacific Bank on the basis that they are suspected of evading UK taxes and associated money laundering offences.Continue reading “Latest on UK customers of the Euro Pacific Bank”

Has a tax scheme promoter left you high and dry? 

Saving tax for clients has always been a major objective for many accountants and other trusted advisors.  And, for many years, accountants and other advisors introduced their clients to a tax scheme promoter who sold various structures both offshore and onshore.Continue reading “Has a tax scheme promoter left you high and dry? “

HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains

According to City AM, HMRC continue to pursue non compliant UK taxpayers by issuing nudge letters.  As previously covered,  HMRC’s use of nudge letters is a cost efficient way of recouping tax for the Exchequer without the need to launch a tax investigation into a taxpayer’s past tax compliance.  But beware, there are risks for both taxpayer and adviser alike.Continue reading “HMRC issue 177,000 “nudge letters” in order to tax offshore income or gains”

Exiting Remuneration Trusts can be tricky

Exiting Remuneration Trusts raise a number of issues that need to be addressed.  Finding a tax solution (particularly one that is acceptable!) may have become easier for some with HMRC’s new Settlement Terms recently announced.  Applications to HMRC have to be with HMRC by 31 July 2022, with all computations.  Even then there may still be other issues to be addressed.

Continue reading “Exiting Remuneration Trusts can be tricky”