You have worked all your life to build up a successful business and now its time to cash it all in and sell up. You have found a buyer and they are willing to pay the full asking price, no quibbles. So why should you beware of the taxman? It’s not as if you haveContinue reading “Wanting to sell your business? Beware of the taxman!”
Tag Archives: Tax avoidance
A taxpayer’s financial affairs can be complicated. But HMRC can ask a never ending stream of questions that can make no sense, or seem to be irrelevant or ask the same question but in a slightly different way. Enough!
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.
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.
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 stillContinue reading “Exiting Remuneration Trusts can be tricky”
HMRC views some tax avoidance schemes as a “misrepresentation of the true nature of events”
According to HMRC, the fine line between tax avoidance and tax evasion has been crossed and deliberately so. HMRC’s unit known as Offshore Corporate and Wealthy (OCW) was established in the wake of the ‘Panama Papers’ scandal in 2016 to investigate serious non-compliance by businesses and the wealthiest taxpayers. Today, the OCW is revisiting aContinue reading “HMRC views some tax avoidance schemes as a “misrepresentation of the true nature of events””