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Latest Finance News related to Tax Inspector

Criminal gangs use UK ports to defraud EU customs image
Source : BBC [Read Article] Wednesday 5th of April 2017 07:02:51 PM
...."We saw a complete change in the mentality of the organisation," says Mr Murphy. "They aren't even training staff to be fully qualified tax inspectors any more. ...
Rolls-Royce sent agent to 'retrieve' document from India tax office image
Source : Guardian [Read Article] Friday 20th of January 2017 01:52:09 PM
....In the settlement with the SFO, Rolls-Royce stated it had used Intermediary 4 as an agent for several years. In January 2006, Indian tax inspectors visited Rolls-Royce’s Delhi office and removed a list of Rolls-Royce’s advisers. ...
HMRC chief calls for tax crackdown on Premier League footballers image
Source : Guardian [Read Article] Wednesday 7th of December 2016 08:08:13 PM
. Britain’s top tax inspector has called on the chancellor, Philip Hammond, to review the tax rules for super-rich football stars who are avoiding tax by siphoning earnings from Premier League games into image rights companies based in offshore tax havens. ...
So, Mike Ashley, can  we handle the truth? image
Source : Guardian [Read Article] Sunday 4th of December 2016 07:00:07 AM
....HMRC estimates that its specialist unit dedicated to collecting tax from high-net-worth individuals clawed back £416m last year – money that millionaires had tried all sorts of creative ruses to avoid paying. Still, the National Audit Office reckons that tax inspectors have identified potential evasion and avoidance worth nearly £2bn by Britain’s richest. ...
Amazon and eBay sellers' VAT fraud rife despite crackdown image
Source : Guardian [Read Article] Monday 28th of November 2016 12:46:30 PM
....After the Guardian first highlighted rife VAT evasion on online shopping sites, HMRC launched a series of warehouse raids, seizing £500,000 of goods. Months later, the then chancellor George Osborne gave tax inspectors new powers which he said demonstrated “firm action to protect the UK market from unfair online competition [from overseas VAT evaders]”. ...
Duke's £9bn inheritance prompts call for tax overhaul image
Source : Guardian [Read Article] Thursday 11th of August 2016 07:40:43 PM
.... But there is no requirement for the register to be available to the public, and it need only list taxable trusts. Information on beneficiaries can only be accessed by “competent authorities”, meaning police and tax inspectors, plus bankers, lawyers and accountants making money laundering checks. ...
Rupert Grint sues HMRC for potential £1m tax refund image
Source : Guardian [Read Article] Tuesday 28th of June 2016 11:32:15 AM
....Grint, who is said to have earned around £24m for his work on the Potter franchise, is in dispute with HMRC over accounts created for him in 2010. The actor is objecting to a decision by tax inspectors to prevent him employing an accounting period shorter than 12 months, between 31 July 2009 and 5 April 2010, which was the eve of the new tax year in which a 50% top rate of tax came into force. ...
Police search Santander's Madrid HQ in money-laundering inquiry image
Source : Guardian [Read Article] Friday 3rd of June 2016 01:25:48 PM
.... All 40 are said to have appeared on Falciani’s list. A tax inspectors’ report says that “there are indications that HSBC, either through its offices in Switzerland or its branches in Spain or third countries, offered Spanish residents the possibility of placing substantial sums of money in opaque accounts”. ...
Police search Santander's Madrid HQ in money-laundering inquiry image
Source : Guardian [Read Article] Friday 3rd of June 2016 01:25:48 PM
.... All 40 are said to have appeared on Falciani’s list. A tax inspectors’ report says that “there are indications that HSBC, either through its offices in Switzerland or its branches in Spain or third countries, offered Spanish residents the possibility of placing substantial sums of money in opaque accounts”. ...
Make profit motive an ally in corruption fight, says offshore expert image
Source : Guardian [Read Article] Thursday 2nd of June 2016 03:32:07 PM
....”. Other measures suggested by Sharman include extending visa bans on suspected kleptocrats to blacklist entire governments to prevent stolen assets from being hidden overseas, and allowing tax inspectors to prosecute corrupt officials for tax evasion arising from interest earned on their illegal wealth. ...
UK and European allies plan to deal ‘hammer blow’ to tax evasion image
Source : Guardian [Read Article] Thursday 14th of April 2016 08:05:56 PM
....”. In a separate letter, Gurría noted that several countries had still not properly implemented the promised information-sharing arrangements for tax inspectors. ...
EU plans to tackle tax avoidance are a good start – but only a start image
Source : Guardian [Read Article] Tuesday 12th of April 2016 04:37:38 PM
....Top of the list was a requirement for big businesses to produce so-called country-by-country reports. These reports – to be shared only with tax inspectors – provide a schedule of business and tax information, itemised by jurisdiction. ...
Europe pressures multinationals to declare taxes and profits image
Source : Guardian [Read Article] Tuesday 12th of April 2016 01:54:38 PM
....Business Europe, the pan-European employers’ association, said it was opposed to public country-by-country reporting. The director general, Markus Beyrer, said the group was ready to disclose such data to tax inspectors, but rejected wider scrutiny. ...
EU regulators demand greater tax transparency from multinationals image
Source : Guardian [Read Article] Tuesday 12th of April 2016 07:08:04 AM
....Business Europe, the pan-European employers’ association, “is heavily opposed to [public] country by country reporting”, its director general, Markus Beyrer, has said. The group is ready to disclose country-by-country data to tax inspectors, but rejects wider scrutiny. ...
Mossack Fonseca: inside the firm that helps the super-rich hide their money image
.... If Britain’s colonial islands were about to pull open the curtain of banking secrecy, what about other jurisdictions? Züger’s answer: he would wind up his clients’ offshore businesses in the BVI and re-register them in non-British territories such as the Seychelles or Panama – dodging Cameron’s stated initiative on transparency. His clients’ names would remain secret and beyond the grasp of even the most dogged tax inspector. ...
Fund run by David Cameron’s father avoided paying tax in Britain image
Source : Guardian [Read Article] Monday 4th of April 2016 12:02:36 PM
.... A series of emails that year between Mossack Fonseca and the fund’s London lawyers suggest the decision was taken not at one of the regular offshore board meetings, but apparently at a board meeting in London. After reviewing the files, Richard Brooks, a Private Eye journalist and former HMRC tax inspector, said: “If HMRC had seen the papers they would have had some very serious questions. ...
Osborne targets overseas sellers on Amazon and eBay in VAT clampdown image
Source : Guardian [Read Article] Wednesday 16th of March 2016 07:51:22 PM
....Disguised earnings have been the cause of much embarrassment for high-profile celebrities in recent years, including the comedian Jimmy Carr. Responding to new VAT evasion challenges presented by the booming digital economy, Osborne said tax inspectors would be given new powers to warn overseas sellers active in the UK through eBay and Amazon. ...
Amazon and eBay to be held liable for VAT fraud by sellers image
Source : Guardian [Read Article] Wednesday 16th of March 2016 04:32:34 PM
....Amazon and eBay are to be held liable, in some cases, for VAT fraud committed by a growing army of overseas sellers using their websites – and costing Britain hundreds of millions of pounds a year in lost tax receipts. The chancellor is giving tax inspectors new powers to warn high-risk overseas sellers active in the UK through eBay and Amazon. ...
Revealed: how Project Goldcrest helped Amazon avoid huge sums in tax image
Source : Guardian [Read Article] Thursday 18th of February 2016 01:44:51 PM
....Amazon’s motives behind Project Goldcrest were clear from the outset, according to the IRS. In a memorandum filed in the Seattle case, tax inspectors claim that when Amazon weighed up the costs and benefits of implementing the scheme, its finance staff “did not quantify any benefits other than avoided US corporate income taxes”. ...
Google's tax affairs: the players and questions they need to answer image
Source : Guardian [Read Article] Wednesday 10th of February 2016 06:48:24 PM
....The outgoing chief executive of HMRC has crossed swords with the public accounts committee before over Google. Three years ago, she bristled at suggestions that her tax inspectors had not been tough enough when scrutinising the group’s tax UK arrangements. ...
French finance minister blasts UK's £130m Google tax deal image
Source : Guardian [Read Article] Tuesday 2nd of February 2016 06:58:22 PM
....Google’s UK company, which the search group insists only provides support services to companies in Ireland and the US, paid £21m in tax in 2013, according to its latest published accounts. British tax inspectors began investigating Google’s UK tax affairs in 2009, and HMRC insists it has closely scrutinised the legality of the search group’s controversial Irish structure. ...
Google's tax deal with the UK: key questions answered image
Source : Guardian [Read Article] Friday 29th of January 2016 06:22:19 PM
....Google and HMRC have told parliament that this structure has been scrutinised very closely. In particular, tax inspectors have tested whether, in law, Google UK is acting as a front for the business activities of its sister company in Ireland. ...
Powerful Google tax opponent will urge UK to drop hostility to radical EU change image
....France has consistently taken a tougher approach to aggressive tax planning by Google and other digital companies. In 2011, tax inspectors raided the search group’s Paris offices, and ever since have been challenging Google’s claims that its French sales can be legitimately booked in Ireland. ...
Amazon and eBay face VAT scrutiny image
Source : BBC [Read Article] Sunday 1st of November 2015 06:04:06 PM
.... . "This principle means that someone like Amazon, someone like eBay can be de facto tax inspectors. ...
Facebook’s affairs are just one of the UK’s problems with tax collection | Letters image
....The fact that Facebook paid only £4,327 in UK corporation tax reveals yet again the government’s feeble attempts to tackle the problem (Facebook’s £35m staff bonus – and £4,327 tax, 12 October). Are companies actually “smelling the coffee” because of their “morally repugnant” practices, as David Cameron and George Osborne warned them they would be, back in 2013; or reeling because Osborne’s diverted profits tax is planned to recoup a mere £600m, but not until 2019? A government that makes huge cuts in its tax collecting agency cannot seriously be seen as an enemy of the tax avoider, and recent reductions in the numbers of tax inspectors at HMRC are allowing employers to flout laws on bogus self-employment. ...
Revealed: how AstraZeneca avoids paying UK corporation tax image
Source : Guardian [Read Article] Sunday 4th of October 2015 10:10:19 PM
....AstraZeneca’s Dutch structure was set up less than five months after new rules came into effect reining in HMRC powers to combat tax avoidance by international businesses. Richard Brooks, a former HMRC tax inspector, now a journalist at Private Eye and author of The Great Tax Robbery, said: “It’s clear from the AstraZeneca companies’ accounts and replies to [the Guardian] that this scheme was designed to generate a UK tax advantage. ...
The man behind Corbynomics: an accountant from leafy Norfolk image
Source : Guardian [Read Article] Friday 11th of September 2015 06:46:04 PM
....”. But long before Corbyn gets the power to unleash the tax inspectors, Labour will have to win back the public’s confidence in its ability to manage the economy, which was comprehensively shattered by the financial crisis of 2008 and the deep recession that followed. ...
Ingenious film investors lose human rights challenge over upfront tax image
. More than 150 wealthy investors in controversial film investment schemes, which HMRC says amount to tax avoidance, have lost a human rights challenge to new powers tax inspectors have been deploying to demand upfront payments. ...
Big businesses should agree to renounce aggressive tax planning, says HMRC image
.... Chief executives are taking a keener interest in tax planning, said HMRC, and “increased scrutiny of tax strategy by a business’s board actively discourages aggressive tax planning”. HMRC will consider whether the tax returns and claims received from a business are in line with its strategy, and if they are materially inconsistent, the company could come under closer scrutiny by tax inspectors. ...
Taxman's power to raid bank accounts 'flies in the face of Magna Carta' image
. George Osborne's decision to allow tax inspectors to raid people's personal bank accounts "flies in the face" of Magna Carta, Francis Hoar, a senior barrister, has warned. ...
HMRC chair confirms giving 'business advice' to Candy brothers image
Source : Guardian [Read Article] Tuesday 7th of July 2015 05:46:54 PM
.... The division of their business into UK and Guernsey entities was “real”, “legitimate” and designed to “minimise risk”. But a tax barrister has said the video could prompt scrutiny by tax inspectors and the Labour MP Karen Buck, whose constituency includes One Hyde Park, has called on the tax office to ensure the structure is legal. ...
HSBC files: UK tax officials under fire for allowing payment amnesty image
Source : Guardian [Read Article] Thursday 30th of April 2015 11:01:04 PM
....In a letter sent on Thursday night, Avaaz called on the agency to explain why HSBC evaders were encouraged to use a process called the Liechtenstein Disclosure Facility (LDF), which allowed them to pay the tax avoided plus a fine equal to only 10% of the money owed. Had tax inspectors chosen not to use the facility, the letter claims, they could have imposed penalties of up to 200%. ...
Greece met its latest IMF debt payment – but no one is sure where the money is coming from image
....Athens is aware of the tax problem. It promised to hire tourists and cleaners as part time tax inspectors in a recent round of reforms drawn up to meet EU criteria for further cash. ...
Europe tightens noose as Syriza told to face the 'naked truth' over bail-out image
.... . Greece's Leftist government has presented plans to monitor state spending and fight tax evasion using students, tourists and housekeepers as undercover tax inspectors. ...
Greece 'eyes tourists as amateur tax inspectors'  image
Source : BBC [Read Article] Saturday 7th of March 2015 01:23:53 PM
. The Greek government could hire "non-professional" tax inspectors, including tourists, to spy on tax evaders, according to a leaked document. ...
HMRC failed to prosecute tycoon over tax evasion image
Source : BBC [Read Article] Friday 13th of February 2015 06:09:16 PM
.... . Richard Brooks, a former tax inspector who now works for Private Eye, said Mr Bloomfield should have been prosecuted. ...
HSBC bank 'helped clients dodge millions in tax' image
Source : BBC [Read Article] Sunday 8th of February 2015 09:00:09 PM
....HSBC denies that all these account holders were evading tax. Richard Brooks, a former tax inspector and author of The Great Tax Robbery, said: "I think they were a tax avoidance and tax evasion service. ...
Tax crackdown by HMRC unit nets 60% more money, report says image
Source : BBC [Read Article] Sunday 25th of January 2015 10:00:03 PM
.... . The Affluent Unit, set up in 2011, doubled in size in 2013 with the recruitment of an additional 100 tax inspectors. ...
HMRC investigations into buy-to-let spark surge in tax receipts image
Source : Telegraph [Read Article] Saturday 10th of January 2015 08:03:11 AM
.... Failures by owners of buy-to-let property to declare gains and pay the appropriate tax are believed to be behind the trend. Figures obtained by a firm of accountants show HM Revenue & Customs’ tax inspectors obtained £136m as a result of probes into underpayments of capital gains tax for the year 2013-14. ...
You may not know it, but you are paying for your bank image
Source : Telegraph [Read Article] Saturday 3rd of January 2015 08:00:15 PM
.... The CMA believes opaque overdraft fees, which subsidise other current account users, may have to be dealt with. Since few consumers understand overdraft policies – a study from the consumer group Which? found that even retired head teachers and tax inspectors were unable to decipher the fees – they are deterred from shopping around. ...
Accountants cheer the UK and the Netherlands for simple tax rules image
Source : Telegraph [Read Article] Thursday 27th of November 2014 05:00:26 AM
.... . “The UK appears to be genuinely business friendly with many tax inspectors having a reasonable grasp of commercial issues and willing to take a pragmatic approach. ...
New rules: when the taxman can take money from your bank account and Isa  image
Source : Telegraph [Read Article] Friday 21st of November 2014 05:08:38 PM
.... . But one thing HMRC tax inspectors can no longer do is ask banks to hand over 12 months of data on an individual’s account history. ...
How the taxman is collecting more revenue from personal tax investigations  image
Source : Telegraph [Read Article] Tuesday 18th of November 2014 08:38:54 AM
. A greater focus on "ordinary taxpayers" and a more "heavy-handed approach" have helped HM Revenue & Customs’ tax inspectors recoup a record amount of tax from savers over the past year. ...
Taxman's 'ghost' video tells children to pay tax  image
Source : Telegraph [Read Article] Wednesday 12th of November 2014 09:29:30 AM
.... . Mike Down, a former tax inspector, who works for Baker Tilly, also called the video a “scare” tactic. ...
Taxing people more than half their income is immoral image
Source : Telegraph [Read Article] Sunday 12th of October 2014 10:40:42 PM
.... In particular, the sense of common citizenship and the basic honesty of most people will vanish in the context of paying their tax. They will veer towards the Italian model, where even the chief tax inspector thinks it is ok to be on the fiddle. ...
An accountant's guide to surviving a tax investigation image
Source : Telegraph [Read Article] Wednesday 17th of September 2014 08:50:50 AM
. Anyone whose financial affairs come under the scrutiny of a tax inspector is in for an emotional roller-coaster ride. ...
Hotel wars: the battle for Claridge's, the Connaught and the Berkeley image
Source : Guardian [Read Article] Saturday 6th of September 2014 08:00:00 AM
...." Relations between the three men are more than chilly: in written court testimony, Frederick Barclay said that a joke he made about McKillen being unlikely to get past security at the Ritz (because "he was not wearing a jacket and tie and his shirt was hanging out") did not go down particularly well; McKillen says that David and his son Aidan, who manages the twins' UK businesses, have deliberately turned their back on him at Claridge's. It was almost exactly a decade ago that Derek Quinlan (the Derek of that portentous text message), Dublin tax inspector turned archetypal, insanely-leveraged Celtic Tiger, first got wind that the Connaught, Claridge's, the Berkeley and the Savoy might be up for grabs, and asked McKillen if he was in. ...
HMRC forced to apologise to MPs after getting its sums wrong image
Source : Guardian [Read Article] Thursday 3rd of July 2014 07:42:05 PM
....Tax officials were forced to apologise on Thursday after Whitehall's spending watchdog found HM Revenue and Customs had incorrectly claimed it was bringing in billions of pounds in extra tax. The discovery by the National Audit Office was an embarrassment for HMRC and led Margaret Hodge, chair of the public accounts committee, to question how tax inspectors could expect the public to file their own tax returns correctly when the tax office was making such errors. ...
European commission to investigate tax affairs of Apple, Starbucks and Fiat image
....The investigation could ultimately lead to a demand for financial reparation from the companies involved. It hinges on so-called transfer pricing arrangements approved by tax inspectors. ...
Almost all Spanish stock market firms use tax havens, report finds image
Source : Guardian [Read Article] Friday 30th of May 2014 12:34:35 PM
.... A report published by the tax office this year estimated that the "submerged" economy accounts for a quarter of the nation's GDP. While there have been recent high-profile court cases, such as the footballer Lionel Messi and the soprano Montserrat Caballé, tax inspectors say the bulk of the evasion is carried out by business and families with large fortunes. ...
UK tax inspectors collect record £23.9bn image
Source : Guardian [Read Article] Tuesday 27th of May 2014 07:20:46 AM
. Investigations by tax inspectors have collected a record £23. ...
'Alliance Trust were too slow in transferring my funds to Halifax' image
Source : Telegraph [Read Article] Friday 18th of April 2014 05:33:13 AM
.... Transfer forms were completed and sent off to Halifax, and Alliance Trust was informed about this decision 10 days later. Alliance Trust then requested confirmatory signatures which we duly sent, countersigned by a senior tax inspector (HMRC) neighbour. ...

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