& Customs (HMRC)’s dispute with the US over the affect on American
expats from chancellor Alistair Darling’s tax crackdown on non-domiciled
foreigners is unlikely to be resolved before the Budget next week, according to
US investment banks and multinationals are increasingly alarmed at the
continued uncertainty over the impact of the new rules on thousands of Americans
in the UK, the Financial Times reports.
The dispute stems from the possibility that US non-doms will be unable to
offset the £30,000 annual levy on wealthy foreigners, who have been in the UK
for seven years or more, against their US tax bills.
Senior Treasury officials have travelled to Washington as part of a drive by
the government to resolve the issue. HMRC’s ‘clarification’ on the non-doms
changes last month said the UK would ‘continue to discuss with the US
authorities how the £30,000 charge can become creditable against US tax’.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay