It aims to provide clear guidance to judges and magistrates and will help promote a consistent approach to the sentencing of these offences in courts in England and Wales. The Council has ensured that the impact on victims is central to how offenders should be sentenced. These offences are committed by offenders for financial gain but can mean much more than financial loss to the victim; even a relatively small sum lost can leave some victims badly affected. Publication of the guideline also marks the first time that there has been a guideline for the sentencing of money laundering. The Council recognises that this offence is an integral part of much serious crime and wants to ensure that effective guidance is in place. In 2012, 17,926 people were sentenced for fraud, a hugely varied offence that can affect individuals, businesses, public money and charities. The areas that may affect the payroll profession are:
identity fraud and internet offences like phishing employees claiming for bogus expenses tax fraud such as income tax evasion money laundering.
Read the full press release
51 countries agree to automatic exchange of tax information
31 October 2014
The UK and 50 other countries and jurisdictions from across the globe have signed a new agreement to share information to help stamp out tax evasion.
The Government announcement confirms that under the agreement, unprecedented levels of information, including account balances, interest payments and beneficial ownership, will be shared with the UK from countries across the world in an international clampdown on tax evasion.
The OECD report gives fuller details of the countries involved and the commitments that they have entered into.
Tax avoidance scheme users making upfront payments
31 October 2014
It is now more than three months since HMRC have had the power to require individuals and businesses involved in tax avoidance schemes to pay the disputed amount of tax upfront while the dispute is resolved.
HMRC have now issued a new briefing , to explain how this new power, called ‘Accelerated Payments,’ is being used.
One detail which might interest payroll specialists is a list of six areas of abuse to which this scheme has been directed. Most of the list is unlikely to be relevant to payroll, although the third and sixth items on the list could well be:
sideways loss schemes stamp duty land tax (SDLT) schemes self-employment schemes artificial loss deduction schemes capital gains schemes
CIPP Policy News Journal
08/04/2015, Page 511 of 521
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