All posts with the topic: DOTAS

Notwithstanding consultation criticisms it was confirmed today that the Government will press ahead with plans to reduce tax avoidance benefits. It is proposed that Finance Act 2014 will provide HMRC with powers to require a taxpayer to pay tax upfront where: • the taxpayer has entered into arrangements to obtain a tax advantage (whether or … Continue reading More on tax avoidance

A consultation document has been released containing draft legislation amending the regime requiring tax avoidance schemes to be disclosed to HMRC.  These proposed measures include revising and extending the hallmarks (which identify the types of schemes that must be disclosed), bringing forward the trigger point for disclosure of marketed schemes, imposing additional information requirements on promoters and on intermediaries … Continue reading Tougher disclosure regime

The Chancellor announced a further increase of 0.5% (on top of the 0.5% rise we were already expecting) on employee and employer NICs.  The increase will come into effect on 6 April 2011. This means high earners will have a marginal NICs rate of 2% and companies will have to pay 13.8%. This widens the … Continue reading Surprise NICs increase