Stephanie Tremain, a senior manager at Blick Rothenberg, said, 'Taxpayers will understandably rely on the information sent to them by HMRC, but for peace of mind it's important that they double check the amount due in January 2019 with their accountant, or for those without an accountant, they need to check their completed 2017-18 tax return.'
She added, 'It is unclear how many taxpayers are affected, or whether HMRC will be contacting those who are, but with the payment deadline fast approaching it is hoped that this will be rectified as soon as possible.'
Source: The Daily Telegraph
Antje Forbich, a director at Blick Rothenberg, said 'It's not just this BlackRock case, almost everything that is in front of the CJEU at the moment will likely be delivered after Brexit.'
She added, 'BlackRock's argument is that for there to be a level playing field with companies that are allowed to recover VAT related to management of the funds, then they should be allowed to recover their VAT also.'
Source: Bureau of National Affairs
Nimesh Shah, partner at Blick Rothenberg said, 'I am going to convince my family to follow my financial lead. I want everyone to fund their Isas, Junior Isas and Lifetime Isas fully — that’s a lot of tax-free savings between my fiancée, parents, niece and nephew.'
Source: Financial Times
Fiona Fernie, a partner at Blick Rothenberg said, 'HMRC is continuing its assault on those with errors in their tax returns relating to offshore matters and transfers - whether the errors are deliberate evasion or genuine mistakes.'
She added, 'In recent years taxpayers have been bombarded with punitive rules for offshore tax non-compliance ranging from a strict liability criminal offence to penalities starting at 200% under the 'requirement to correct' legislation.'
'In addition, despite the review of HMRC's powers by the House of Lords Finance Bill sub-committee and the concerns expressed - both by those who responded to HMRC's consultation document about the extension of time limits within which HMRC can assess non-deliberate tax non-compliance - measures allowing HMRC 12 years in which to assess additional tax in these circumstances will apparently be implemented unabated.'
Source: Tax Adviser