I'm preparing something for other parties so have decided that anything I put here is incremental.
I'm not going to touch the situation on umbrella companies and the restriction of relief on expenses. I know that there are others here with better knowledge and insight and pretty sure that this was mentioned some months ago on the threads there.
APN's - apparently HMRC has "found" another 21,000 cases due to get an APN. That's a 50% increase on their original estimate. The Red Book estimates these will collect £555m. Unbelievable incompetence.
Direct recovery of debts - to be introduced despite riding roughshod over several safeguards. I suspect that the original target audience of around 17,000 people will mysteriously increase over time.
Serial avoiders - those who have used schemes in more than one year - will face tougher penalties and probably a surcharge. Does that mean that people who have used the same scheme for a number of years get hammered?
Partial closure of enquiry - new rules allow parts of an enquiry to be closed leaving other parts open. It looks like HMRC has a lot of discretion about what parts fir what criteria. I predict more litigation here.
Disclosure facility - the current chances to disclose foreign bank accounts etc are all being shortened and must be done before Dec 2015. There is then a "final" chance to disclose at a "favourable" 30% penalty. I think this might be a precursor to a final amnesty type deal although it will need to be ameneded.
Criminal penalties- for tax avoiders and stronger penalties for professionals involved in tax avoidance planning. Are they after some of the well known names that appear on these forums?
A bitterly quick and dirty list of highlights so feel free to add/debate.
I'm not going to touch the situation on umbrella companies and the restriction of relief on expenses. I know that there are others here with better knowledge and insight and pretty sure that this was mentioned some months ago on the threads there.
APN's - apparently HMRC has "found" another 21,000 cases due to get an APN. That's a 50% increase on their original estimate. The Red Book estimates these will collect £555m. Unbelievable incompetence.
Direct recovery of debts - to be introduced despite riding roughshod over several safeguards. I suspect that the original target audience of around 17,000 people will mysteriously increase over time.
Serial avoiders - those who have used schemes in more than one year - will face tougher penalties and probably a surcharge. Does that mean that people who have used the same scheme for a number of years get hammered?
Partial closure of enquiry - new rules allow parts of an enquiry to be closed leaving other parts open. It looks like HMRC has a lot of discretion about what parts fir what criteria. I predict more litigation here.
Disclosure facility - the current chances to disclose foreign bank accounts etc are all being shortened and must be done before Dec 2015. There is then a "final" chance to disclose at a "favourable" 30% penalty. I think this might be a precursor to a final amnesty type deal although it will need to be ameneded.
Criminal penalties- for tax avoiders and stronger penalties for professionals involved in tax avoidance planning. Are they after some of the well known names that appear on these forums?
A bitterly quick and dirty list of highlights so feel free to add/debate.
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