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SIX TASKFORCES LAUNCHED TO TACKLE TAX DODGERS
1 June 2012
Six new taskforces launched this week will target traders who do not pay the right amount of tax in Indoor and outdoor markets in London, Taxi firms in Yorkshire and East Midlands, property rentals in East Anglia, London, Yorkshire and the North East and restaurants in the Midlands. Taskforces are specialist teams that undertake intensive bursts of activity in specific high risk trade sectors and locations in the UK. The teams will visit traders to examine their records and carry out other investigations.
HMRC’s Mike Eland, Director General Enforcement and Compliance, said:
“These six new taskforces will bring together specialists from across HMRC to tackle tax dodgers. If you have paid all your taxes you have nothing to worry about. But deliberately evading tax you should be paying can land you with not only a heavy fine but possibly a criminal prosecution as well.
“This is not an empty threat - HMRC can and will track you down if you choose to break the rules.”
HMRC launched 12 taskforces in 2011/12. Thirty will follow in 2012/13.
Read the full HMRC press release
GOVERNMENT CONFIRMS U-TURN ON TAX RELIEF LIMIT FOR CHARITABLE DONATIONS
1 June 2012
The Chancellor has announced that it will now exempt charities from plans to limit tax relief on large donations £50,000 a year from April 2013.
Within the budget announcement it was stated that legislation will be introduced in the Finance Bill 2013 to apply a cap on income tax reliefs claimed by individuals from 6 April 2013. The cap will apply only to reliefs which are currently unlimited. For anyone seeking to claim more than £50,000 in reliefs, a cap will be set at 25 per cent of income (or £50,000, whichever is greater). Charitable donations will not now be included in the draft legislation which is to be published later this year. The existing rules will remain in place meaning individuals can donate as much as they want and still reclaim the income tax they have paid on the amount of donation.
Read the press release from the Guardian
CIPP Policy News Journal
12/04/2013, Page 98 of 362
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