HMRC has also published an issue briefing on how they are tackling offshore tax evasion which explains how they are reducing the opportunities for offshore evasion, what they are doing to identify and catch evaders, and the tough consequences for those who evade their taxes.
No safe havens in HMRC’s offshore evasion strategy
17 April 2014 An update published by HMRC details the rapid progress made in tackling offshore tax evasion. Following the Chancellor of the Exchequer's announcement last week, HMRC has today published an update to its offshore evasion strategy: No Safe Havens. The updated strategy can be found on the Gov.uk website . This details the rapid progress made in tackling offshore tax evasion, the new actions being taken and how HMRC intends to exploit data sources better, and to influence behaviour. Specific actions include: introducing legislation to implement the new Organisation for Economic Co-operation and Development (OECD) standard in automatic exchange of information between governments consulting on strengthening the existing civil sanctions, including penalties for offshore tax evasion consulting on the detail of a new strict liability criminal offence for failing to declare untaxed offshore assets paying rewards to whistleblowers who, in HMRC's view, provide significant information that helps tackle offshore tax evasion.
Further information on offshore disclosure facilities can also be found on HMRC’s website .
Rates and Thresholds
NEW RATES FOR REDUNDANCY PAY FROM 1ST FEBRUARY 2013
10 December 2012
The Employment Rights (Increase of Limits) order 2012, was laid before Parliament on the 4 th December 2012.
The new rates, due to come in to force on the 1 st February 2013, will see an increase to the weekly rate of Statutory Redundancy Pay from £430 to £450. The limit on the amount of compensatory award for unfair dismissal also sees an increase from £72,300 to £74,200. Full and further details of all compensatory award limits contained within the order will come in to force for any settlements falling on or after 1 st February 2013.
CLASS 1 NIC THRESHOLDS AND STATUTORY PAYMENT RATES FOR 2013/2014
10 December 2012
Following the Chancellor’s Autumn Statement on the 5th December the Class 1 NIC thresholds for 2013/2014 along with the rates to be used for NICs compensation and for statutory payments have been released by the Software Developers Support Team.
Class 1 NIC Thresholds
CIPP Policy News Journal
16/04/2014, Page 479 of 519
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