Another Win for HMRC in Tax Avoidance Case
HM Revenue and Customs has defeated a tax avoidance scheme used by the wealthy to reduce their tax bills. The decision on the scheme, known as Clavis Liberty Fund 1 Limited Partnership, means £18m of tax money [...]
Credits roll on tax breaks for film investors
High-risk venture: tax breaks which financed James Bond are coming under fire Film investment schemes that have helped finance a string of hits, including the James Bond movie Skyfall, are under threat from a government [...]
Bank forced analyst to change critical report
Jefferies accused of yielding to pressure to win clients The City watchdog is investigating an American investment bank over claims that senior managers improperly interfered with the work of analysts in its research department, an [...]
HMRC hits winning streak in tax avoider crackdown
HM Revenue & Customs lost only three of the tax avoidance cases which went to court during 2016/17. During that year there were a total of 26 decisions in litigation over tax avoidance between HMRC [...]
HMRC crackdown brings in £29bn from tax dodgers
HMRC brought in an extra £29bn by cracking down on the minority of individuals and businesses who try to not pay the tax they owe. The figure is revealed in its annual reports and accounts [...]
Warning from senior figure as advisers told to act early or risk disappointment when looking for EIS investments this year
A senior figure in the EIS community is warning advisers that they should start their EIS ‘season’ early, way before the traditional period of January to the end of the tax year. CEO of Kuber Ventures Dermot [...]
Rooney faces £3.5m bill through tax avoidance
England captain challenged by Revenue and Customs over suspect film scheme. Wayne Rooney is facing a £3.5 million charge after tax authorities challenged a suspected avoidance scheme in which he was the largest investor. The [...]
EIS Film Funding – Does it matter that on average only 7% of all British films make a profit?
British Films like Skyfall, Slumdog Millionaire, The Woman In Black and The King's Speech were international hits - putting them in the minority. Just 7% of films made in the UK turn a profit, according to [...]
IFAs as enablers: How HMRC will target advisers behind tax avoidance schemes
HM Revenue & Customs has set out how its plans to impose fines on firms promoting tax avoidance schemes will work in practice. In a consultation paper on strengthening tax avoidance penalties and deterrents, HMRC includes [...]
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