FATCA List August 2020
The number of offshore banks and financial institutions reporting to the US Internal Revenue Service under the Foreign Account Tax Compliance Act is still growing
Can HMRC Chase Expats Abroad?
Is the arm of the British tax man long enough to nab expats who have skipped the country owing tax? A landmark court ruling means
Common Reporting Standard, CRS, Explained
The Common Reporting Standard or CRS is an international network of tax authorities which share personal and financial data about foreign nationals living in their
FATCA List – June 2020
The US Internal Revenue Service’s list of foreign financial institutions (FFI) reporting under the Foreign Account Tax Compliance Act (FATCA) increased by 1,854 to 359,072 in
Tax Haven Companies Barred From Coronavirus Rescue Aid
Governments seeking to reduce their coronavirus bail-out exposure are excluding companies listed in alleged tax havens from bail-out cash. In a tit-for-tat measure, governments in
FATCA List – May 2020
The US Internal Revenue Service’s list of foreign financial institutions (FFI) reporting under the Foreign Account Tax Compliance Act (FATCA) increased by 4,070 to 357,218
HMRC Shows No Mercy In Hunt For Offshore Money
The tax man is still hunting down taxpayers suspected of hiding their wealth offshore despite suspending most other investigations. HM Revenue & Customs has put
Does The Coronavirus Lockdown Impact Tax For Stranded Expats?
While most people are worrying about their health and money during the coronavirus crisis, for expats tax is a concern as well. With billions of
Alchemy Tax Scheme Fails To Work Magic At Tribunal
A tax avoidance scheme has lost a landmark case that could see HM Revenue & Customs claw back more than £110 million from linked cases.
Tax Man Wants Software To Snoop On Crypto Trades
The British tax man is urging software developers to come up with an app that tracks cryptocurrency transactions to stop money laundering and tax avoidance.
Only 38% Of Tax Bonanza Is Real Money, Say Accountants
A crackdown on tax avoidance has boosted UK tax revenues by £13 billion – but claims of billions more raised from investigations is just guesswork,
Tax Crusade Looks To Raise £30m From Contractors
The tax crack down on contractors is continuing as HM Revenue & Customs seeks to raise nearly £30 million from employment status investigations. HMRC still
New UK Tax Rules May Impact Expat Contractors
Many of the 170,000 contractors working for their own company will pay more tax this year – and many are expats who may not yet
IHT Is Too Complicated, Say Tax Gurus
Tax experts are recommending ministers to take action to simplify inheritance tax rules. The Office of Tax Simplification, an independent government agency looking at how
Tax Havens Pledge To Lift Company Ownership Secrecy
Three of Britain’s tax havens are ready to lift their veils of secrecy over the mystery owners of thousands of offshore companies. The British Crown
Contractors Pay £1bn To HMRC Over Disputed Loan Charges
Expats who took advantage of borrowing money from their contractor companies rather than taking salaries to minimise tax are under siege from the UK tax
Buy To Let Lenders Crack Down On Tax Avoidance
Buy to let mortgage lenders are declining loans for landlords they suspect of avoiding tax, a leading lender has revealed. Paragon, a specialist property investment
3m Taxpayers Holding Offshore Accounts Under Scrutiny
Overseas tax authorities have revealed the tax secrets of around 3 million UK taxpayers with offshore accounts in more than 100 countries. Masses of information
HMRC Forces Firms To Hand Over Confidential Client Papers
HM Revenue & Customs is secretly collecting evidence about the financial affairs of suspected tax dodgers from professional service businesses. HMRC’s Criminal Investigation Directorate issued
Avoiding Loan Charge Tax Is Doomed To Fail, Says HMRC
Schemes aimed at helping expat contractors avoid the disguised remuneration loan charge are doomed to fail, says HM Revenue & Customs. The loan charge applies