The list of deliberate tax defaulters has been updated with the latest penalties charged to those companies found to be falling foul of tax law. Go to GOV.UK to see the current list of deliberate tax defaulters.
Background HMRC will publish details of those people who have received penalties either for: • Deliberate errors in their tax returns • Deliberately failing to comply with their tax obligations
HMRC may publish information about a deliberate tax defaulter where: • HMRC have carried out an investigation and the person has been charged one or more penalties for deliberate defaults • those penalties involve tax of more than £25,000
However, their information won’t be published if the person earns the maximum reduction of the penalties by fully disclosing details of the defaults.
HMRC will publish enough information to identify the: • Deliberate tax defaulter • Penalties imposed for their deliberate defaults • Amount of tax on which those penalties are based
HMRC will only publish this information once these penalties are final. The law requires that any information about the person is not published for more than 12 months from the date it is first published, and the lists of deliberate tax defaulters won’t be captured for the National Archives.
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Employee Bonus Schemes: Growth Securities Ownership Plan (GSOP) 8 October 2018
Tax Agents with clients who have used employee bonus tax avoidance schemes such as the Growth Securities Ownership Plan (GSOP) may be interested in a recent decision by the First-tier Tribunal (FTT).
A recent post from HMRC’s Tax Agent blog has highlighted the following:
“Many users of GSOP schemes have already settled their liabilities, but a minority are seeking to challenge HMRC’s view of the scheme in the FTT. The Tribunal has decided that two appeal cases, which were the most advanced in the litigation process, should proceed as lead cases, with all other similar appeals being put on hold pending a decision. This means the Tribunal’s final decision on lead cases will be binding on all similar appeals, unless they can be distinguished. The Tribunal’s decision will not have any impact on HMRC’s ability to negotiate with those who wish to settle their affairs, whether their case is before the tribunal or not. HMRC will continue to issue determinations to users of the scheme for the tax we believe is due.
Once a final decision is reached, it will not impact on HMRC’s ability to issue follower notices and accelerated payment notices in relation to related appeals.
If your clients are involved in this type of tax arrangement and want to discuss how they can withdraw from their scheme and settle their tax liability, please get in touch.”
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The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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