NB this is a review of the first draft published on 14th November 2018.  Small changes have been made since, for example the “20XX” date is now 2022. Executive Summary This is not Brexit. Certainly not on 29 March 2019. Statements from the PM in the media to that effect are being economical with the

1. General Points 1.1. Given the outcomes of previous reviews and OTS reports, one cannot help but see this is another attempt to increase taxes in the name of “fairness”. We would challenge HMRC to buck the trend and confound the cynics. 1.2. The document is misguided in some of its fundamentals. 1.2.1. First, this

Whilst there are still many important issues to resolve in the agreement for the UK’s withdrawal from the EU, it is fairly clear given statements made by M. Barnier that there is very little prospect of the UK keeping the benefit of EU tax measures, such as the Royalties and Interest Directive and the Parent

PLEASE NOTE THAT NONE OF THIS IS, OR IS INTENDED TO BE, INVESTMENT ADVICE. YOU MUST SEEK ADVICE BEFORE YOU INVEST. THIS ARTICLE IS ABOUT THE TAX BENEFITS OFFERED BY HMRC FOR VARIOUS SCHEMES. Are You in Your 40’s, 50’s or even 60’s? Are You still financially supporting Your children but also funding Your parents?

I recently received the following email from HMRC: The document mentioned in the email can be found via this link. My response can be found below: Dear Sirs Comments on discussion document on AML fees This firm is registered with HMRC for AML. As a general comment, it has always surprised me how the government

Here is a link to an HMRC discussion document on anti-money laundering supervision fees. Below you can find my response… August 22, 2018 HMRC AMLS By email to amls.feesreview@hmrc.gsi.gov.uk Dear Sirs Comments on discussion document on AML fees This firm is registered with HMRC for AML.  As a general comment, it has always surprised me

Executive summary Technological change has radically increased both the volume of data in the economy, and our ability to process it. This change presents an opportunity to transform our economy and society for the better, that is reduce the cost to government of doing its job at the expense of you doing it for us

Headlines 2012 HMRC fought off a Cabinet Office proposal that they should be required to share YOUR data with academia and others as BIG DATA would generate huge value. 2018 HM Treasury issue an anonymous paper on the potential value to government of accessing and sharing your data. If you are concerned at the governments

“I don’t believe it will happen.”  “They could not organise a fire in a match factory”. These are common responses from clients when I mention Directive 2011/16/EU on Administrative Co-operation between EU member states’ tax authorities. This Directive permits sharing of tax data, e.g. the price a German group company charges its British one for

Key points From 1 January tax authorities in the EU will be able to find details of who owns every entity in the EU. If the UBO is a trust of foundation outside the EU, then they will still be disclosed. How many people living in the UK have undeclared benefits from offshore trusts? Unprompted