TaxCorporate TaxIllegal dividends prompts tax investigations

Illegal dividends prompts tax investigations

Insolvencies reveal concern for taxman

A warning has been issued that many company insolvency are sparking
investigations because of suspicions of illegal dividend payments being made.

According to
Contractor
accountancy firm Wilkins Kennedy that HM Revenue & Customs is aware of
a sharp increase in in potentially unlawful loans and distributions.

The firm said that the last eight out 10 insolvency cases taken on have led
to investigations because of alleged illegitimate actions by directors.

Wilkins Kennedy partner Keith Stevens is reported saying some owner managers
view taking an illegal loan from their companies as easier than curbing their
spending.

Read more:

Taxman
reveals avoidance schemes

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson