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31 Aug 2011
THE TAXMAN is to target tax havens that offer company formation services without collecting information on beneficial ownership, Accountancy Age understands.
A senior source at HM Revenue & Customs said the UK is looking closely at jurisdictions that allow businesses to register without operating an adequate level of scrutiny of where the companies are effectively active. Examples include the British Virgin Islands and Panama.
Further reading
It is thought that HMRC is in discussions with these jurisdictions.
This follows the agreement between Switzerland and the UK, which means UK residents will have to pay a one-off percentage of the value of their accounts and a withholding tax on all future earnings on the accounts.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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