Monthly Archive: Jul 2016

Inheritance Tax Planning and DOTAS

The DOTAS regime was originally introduced in 2004 to enable HM Revenue & Customs to acquire information about marketed tax avoidance schemes. Arrangements only have to be notified if they fall within certain ‘hallmarks’. These include indicators such as whether…
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HMRC must create trustworthy digital system

The National Audit Office has warned that HMRC will need to build public trust in its new digital services The NAO said in the Revenue’s 2015/16 report and accounts that, while its plan to have “the most digitally advanced tax…
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HMRC ‘too optimistic’ about rapid technological change

The National Audit Office has confirmed that HM Revenue & Customs has not tried to estimate the costs for individual taxpayers and businesses of its planned transition to online quarterly financial reporting. The NAO’s review of HMRC’s 2015/2016 annual accounts…
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Welsh government prepares replacement for stamp duty

The Welsh government has published a draft of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill. The new tax would replace stamp duty land tax on transactions from 1st April 2018, though initially it will be consistent…
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Entrepreneur’s Relief Rules Change

The Government appears to have taken note of concerns over retrospective taxation and amended the Finance Bill 2016 in an attempt to remove the possibility in certain circumstances. Entrepreneurs’ relief was introduced by the Treasury as an incentive to entrepreneurship…
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