Where the rules apply, the payment by the transferring partner is taxed as if it were partnership profit. Commentary The proposals have been a long time coming as HMRC announced some time ago its view that LLPs
Elsewhere in the session, Harra predicted that the cost-of-living crisis was likely to impact on HMRC’s ability to collect debts from customers and potentially fuel a growth in non-payment of taxes. According to HMRC’s latest annual report and accounts, the tax gap – or the differen...
HMRC and enhanced powers on tax avoidance and evasion The first phase is the voluntary disclosure window, which involves notifying HMRC of an intention to disclose an under-declaration, followed by the submission of the quantified disclosure and payment. Tax matters: coming clean: senior tax consult...