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 have been used to implement aggressive tax planning (sometimes poorly), and this...
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...