Heather Self, partner at Blick Rothenberg said, 'Bluntly, disguised remuneration loans were about dressing up part of an indivdual's remuneration as a free gift on which tax would never be paid; in my view, this was aggressive avoidance. A large part of any blame should lie with those who devised and promoted the schemes, although those who entered into them were, at best, naive or optomistic in thinking that they would not have to pay tax in the end.'
Source: The Tax Journal
'Accountants aren't technologists, but we can understand what technology is best for the client,' says Bobby Lane, a partner at Blick Rothenberg.
Gary Gardner, Tax risk and dispute resolution partner at Blick Rothenberg said, 'The UK Government announced in the Autumn Budget 2018 that HM Revenue & Customs (“HMRC”) will publish an updated offshore tax compliance strategy which will build on the progress made under the current strategy.
Not surprisingly the Government also reaffirmed its commitment to tackling tax avoidance, evasion, aggressive tax planning and non-compliance generally, claiming its initiatives since 2010 have secured and protected over £185bn ($237bn) of tax that might otherwise have gone unpaid.'
Gary added, 'HMRC’s current tax strategy was published in 2014, entitled “No Safe Havens,” with the aim of ensuring that there are no jurisdictions where taxpayers feel safe to hide their income and assets from HMRC.'
Source: Bloomberg BNA
Nimesh Shah, partner at Blick Rothenberg said, ‘The backdated charges plus penalty fines can run into thousands of pounds, so the backlash is not surprising.’
‘This change of heart seems to suggest that HMRC admits it got things a bit wrong. My view is that HMRC is loosely acknowledging that the introduction of the child benefit charge was handled badly, and unknowingly caught out the majority of impacted taxpayers, who were simply not aware of the charge’
Source: City AM
Bobby Lane, partner at Blick Rothenberg said ,'Meeting and connecting with people can add huge value to your business.'
Bobby added, 'Just make sure you’re communicating in a way that is accessible to the talent you want on board. By 2020, 75% of the workforce will be made up of illennials, so you need to be able to peak their digital language.'
Source: The Times
London accountants Blick Rothenberg has bought business advisers Hazlems Fenton.
Source: The Daily Mail
Neil Lancaster, director at Blick Rothenberg said, 'Previously some people with less than 5%interest in a company in a company would arrange to increase their holding to 5% of the share capital and voting rights, but not 5% of the equity or economic rights in the company.'
Source: The Daily Telegraph
Neil Lancaster, director at Blick Rothenberg said, 'For many people nine months is not enough time to sell a property. This will lead to unnecessary complications when calculating capital gains on the disposal of property.'
Source: The Telegraph
'From April 2020, the taxpayer in the example would be £13,300 worse off', said Suzanne Briggs, partner at Blick Rothenberg.
Source: The Guardian
Paul Haywood-Schiefer, manager at Blick Rothenberg said, 'For the charity, the donation is assumed to be made net of basic rate tax of 20%, which the charity can claim back from HMRC. For the individual, their basic rate tax band is increased by the value of the gross donation (the other tax bands stay the same, they will not shrink).'
Source: The Guardian