The protection of limited liability is the most commonly cited reason for incorporating a business, according to research conducted by Ipsos MORI for HMRC that may be seen to add weight to call
The courts continue to find in favour of HMRC in cases involving avoidance schemes, with the most recent example being Vaccine Research Limited Partnership and another v CRC at the Upper Tribunal.
It's officially midway through the week! Let's celebrate with a celebratory desk dance and skimming over five of the day's stories.
An Oxfordshire barrister has been jailed for three years after pleading guilty to a £274,000 tax fraud.
HMRC has announced plans to cut a further 14 offices, including more than 1,000 jobs, by December 2015.
Many contractors, especially in the IT industry will currently be pondering whether or not to reach agreement with HM Revenue and Customs under their Contractor Loans Settlement Opportunity.
The UK’s tax gap in 2012/13 was 6.8% of tax liabilities or £34bn, according to HMRC’s latest estimate.
- ICAS: HMRC record checks are “flawed” 189,800 18
- Reasonable Excuse scorecard 2011: Taxpayers 20 HMRC 12 41,408 17
- HMRC ‘reasonable excuse’ definition under fire 25,724 22
- HMRC loses husband-and-wife settlements case 23,907 18
- Struck-off companies dodge £16bn a year 23,798 59