Anti-money laundering legislation may create a two-tier regime
AML legislation may create a “two-tier regime” due to inconsistent approaches towards accountants that are part of a professional accounting body and those who are not
HMRC
HMRC collects an extra £3.4bn from SMEs in underpaid VAT
VAT revenue made up 49% of the additional tax take from SMEs following HMRC investigations into SME tax compliance
Court upholds ruling against HMRC’s position in Sports Direct EU VAT case
The Upper Tribunal Court has upheld a ruling in favour of Sports Direct and against HMRC’s position that the retail company owed millions in EU VAT
HMRC dawn raids increased by 34% in five years
This is part of HMRC’s efforts to clamp down on white collar tax evasion, and new legislation criminalising failure to prevent tax evasion will give HMRC a bevy of additional powers to use
HMRC invokes GAAR to clamp down on gold bullion tax avoidance schemes
The GAAR advisory panel stated that the use of gold as payments for employees is “abnormal and contrived” and “not a reasonable course of action”
Making Tax Digital – still full steam ahead?
The recent announcements around MTD place VAT firmly at the forefront of the programme – but where does that leave MTD for other taxes? The CIOT’s Margaret Curran takes a closer look
HMRC appoints new director generals
HMRC has appointed new director generals to head their customer services and customer compliance groups
5 reasons not to overlook the Common Reporting Standard
Helen Thornley from ATT looks at the reasons why accountants should pay more heed to the Common Reporting Standard
OTS report: Corporation tax should follow accounts
The report suggests a wide range of reforms focussed on bringing together corporation tax and accounts, including creating five year roadmap for CT reform to align with MTD
Making Tax Digital delayed to 2020 at the earliest for taxes other than VAT
The government announces reformed MTD timetable and when to expect the Summer Finance Bill
