Local Professional Support - August 2018

Taking penalties – is HMRC winning the fight against inaccuracy?
New figures obtained by RSM under the Freedom of Information Act reveal some interesting trends in the number and type of penalties imposed by HMRC against those understating income or gains.

Government publishes new proposals for early payment of tax 
Everybody in business knows the expression 'turnover is vanity, profit is sanity and cash flow is king'. What is true of business is also doubly true for government. 

Will new tax abuse and insolvency plans hamper trade 
As announced in the Autumn Budget 2017 and Spring Statement 2018, the Government is keen to explore ways to tackle those who deliberately abuse the insolvency regime to avoid or evade their tax liabilities. In spring we saw the launch of a consultation to seek views on how to tackle the problem. 

Exaggerate your income and risk deportation 
Recent press commentary suggests that the Home Office is investigating a number of cases where immigrants have over-stated their income when applying to remain in the UK. The Home Office knows this to be true because it has subsequently cross checked the income details with HMRC and the result may be deportation of the applicant. 

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