UK insurer Prudential has moved closer to securing a tax refund worth more than £100m ($143.4m, €126.5m) from HM Revenue and Customs (HMRC) in a long-running dispute over claims the tax office broke EU rules.
The British government has published details of its proposed new law making senior management of a financial services firm criminally liable if any member of staff facilitates tax evasion, and has called on the industry to provide feedback.
The British prime minister David Cameron has announced a new law which makes companies criminally liable for employees who aid tax evasion as he defended his own tax affairs from mounting criticism following the ‘Panama Papers’ leak.
The Isle of Man is to set up a central database of beneficial ownership information that it will share with law enforcement agencies in the UK.
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
The UK’s double tax agreements (DTA) with Guernsey, Jersey, and the Isle of Man have been amended so that non-UK resident property developers will no longer be able to avoid paying income or corporation tax in the UK.
Tax experts give their views and insights on chancellor George Osborne’s 2016 Budget.
Whether you support or oppose Chancellor of the Exchequer George Osborne and his party, it is hard to argue he is not a shrewd operator and a safe pair of hands for the British economy.
Firms offering venture capital trusts and enterprise investment schemes could be among the main beneficiaries of George Osborne’s expected pension tax changes, according to two surveys.
The UK government will remove tax restrictions on people who want to sell the income stream from an existing annuity from 6 April next year, effectively giving them similar freedoms as those soon to be enjoyed by those in defined contribution savings plans.
There is a new and clear division of responsibility in the UK between consumers, the pensions industry and government policy makers coming into effect after 6 April that is a long way from the current system, the Financial Conduct Authority said.
HM Revenue & Customs has recovered a record amount of tax from big ticket avoidance, evasion, and fraud, up nearly a quarter on last year.
