For the tax year 2011/12 there is a new penalty regime for late filing of tax returns and the late payment of tax. […]
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Category: Tax/Social Security
HMRC to fine small and medium sized businesses up to £3,000 for failing to keep proper records
HMRC has announced that it is to target 40% of the UK’s 4.9 million small and medium sized businesses which engage in poor record keeping and where HMRC expect that unpaid tax is likely to be due. […]
New OECD Model Tax Convention
The revised version of the condensed OECD Model brings welcome clarity to the meaning of employer for Article 15 (short term assignment) purposes. […]
Insured benefits and the State Pension Age
Pension of insured benefits to employees until state pension age under Equality Act 2010 […]
The UK Bribery Act came into force on 1 July 2010 as the FSA announces a corruption review
The UK Bribery Act came into force on 1 July 2010. The UK’s Bribery Act 2010 (the “Act”) applies to all organisations carrying on business in the UK and creates a number of offences, breach of which is punishable by up to 10 years imprisonment and an unlimited fine. […]
Proposed new residency test – Complexity replaces uncertainty?
The Government has issued its proposals for a statutory residence test (“SRT”) for individual taxpayers. […]
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Funds in Swiss bank accounts to be taxed from 2013
The UK and Switzerland have reached an agreement which will see funds in Swiss bank accounts taxed and the proceeds remitted to the UK Treasury. […]
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Proposed new statutory residence test – some reflections
The consultation period relating to the proposed introduction of a statutory residence (and ordinary residence) test in the UK closed on the 9th September 2011. We are now awaiting the publication by the Government of a summary of responses. This will be followed by the publication of draft legislation for further consultation before the 2012 UK Budget in March next year. […]
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HMRC’s revised guidance (HMRC 6) moves a couple of goal posts
HMRC published a revised version of its guidance on residence, domicile and the remittance basis (HMRC 6) on 27 October 2011 (please see the link in the ‘Resources’ section below). […]
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Gaines-Cooper – Supreme Court decision on tax residence
Mr Gaines-Cooper has lost his appeal in the Supreme Court, which agreed with the Court of Appeal’s decision that he had not ceased to be resident in the UK for the years under dispute. […]
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