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Lack of vision The case below concerns the issue by HMRC of details of a scheme that they believed was potentially tax avoidance. HMRC exercised their powers under s86 FA 2022. This allowed them to name the company and share some information on the scheme. The company's defence was that EU law prevented HMRC from doing this. It did not help the company's case that they were tardy in taking up a case. It is also evident that Mr Justice Ritchie who heard the case was frustrated by not being able to understand how the scheme purported to work and that the company's barrister was unable to enlighten him, apparently not having sufficient instructions to do that. It is evident however that HMRC made correct use of the powers it has and that they were cautious in using that power even to the extent of granting the company a period before publication of the names, to allow them to appeal. For the reasons contained in paragraph 35 of the decision, (protection of taxpayers; protection of the Exchequer) the right decision was reached here (in my opinion). I do however remain of the view that this case demonstrates a certain double standard being applied by HMRC. On the one hand, the powers they have to name promoters and schemes are valuable in allowing HMRC to claim that any tax lost can be chased via the parties mentioned. If a taxpayer continues to use a named scheme, they have been warned. On the other hand, before there powers existed, schemes were in use and HMRC probably had as much information about them as they do about more recent arrangements. HMRC did not have naming powers. In most of these situations however, because the promoters emerged, made thier fees and disappeared, HMRC is pursuing - with some prejudice - those who used the schemes regardless of their knowledge of the tax effect. Retrospection is not good news in law, especially tax law. In this area however, HMRC does use retrospection to chase individuals but not promoters who are arguably more culpable. Why not? https://lnkd.in/emtmuyXT)

The TaxProf: Weekly SSRN Tax Article Review And Roundup: Eyal-Cohen Reviews Brauner's Taxing People, Not Residents: This week, Mirit Eyal-Cohen (Alabama; Google Scholar) reviews Yariv Brauner (Florida, Google Scholar), Taxing People, Not Residents: The COVID-19 pandemic has really shaken things up in the workplace, causing us to take a closer look at how we handle taxation based on where people live. I discovered that job mobility,... http://dlvr.it/T47N7K @SoCalTaxProf #Tax #Policy #Law

Dive into the world of tax expertise! Our latest blog talks about the journey to becoming an Enrolled Agent. So, whether you're eyeing a private practice or government position, this guide is your key to a successful career in taxation. Read more: https://zurl.co/SJQd #TaxProfessional #EnrolledAgent #AccountingTips

The TaxProf: Weekly SSRN Tax Article Review And Roundup: Eyal-Cohen Reviews Brauner's Taxing People, Not Residents: This week, Mirit Eyal-Cohen (Alabama; Google Scholar) reviews Yariv Brauner (Florida, Google Scholar), Taxing People, Not Residents: The COVID-19 pandemic has really shaken things up in the workplace, causing us to take a closer look at how we handle taxation based on where people live. I discovered that job mobility,... http://dlvr.it/T47N75 @SoCalTaxProf #Tax #Policy #Law

Did you know ❓ We work directly with GPs and practice managers to understand the issues particular to each practice, to assist in providing solutions in addition to the annual compliance work of preparing accounts and tax returns! #townendsaccountants #ukaccountants #yorkshireaccountants #yorkshire #gpaccounting

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Any accountants on here able to answer a question for me (my client) haha! 😂 If you're employed and self-employed during the tax year does the £1,000 limit still apply to the self-employed declaration in terms of needing to do a tax return? My client is unsure if they need to do one but they were also employed in a totally separate job. Feel free to message me if you need more context! This is not my area of expertise. 😔😅 #virtualassistant #supportworker #adhdclients #notanaccountant #accountanthelpme #numbersarenotmybestie #virtuallystacey

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Real Estate Directors have a number of important responsibilities, including ensuring that the company's tax and superannuation obligations are met. If the company fails to meet these obligations, you could be personally liable for the unpaid amounts. The Australian Taxation Office (ATO) can issue a director penalty notice (DPN) to a director who is responsible for the company's unpaid tax or superannuation obligations. A DPN can result in a significant financial penalty, so it is important to take steps to avoid receiving one. There are a number of things you can do to avoid receiving a DPN, including: * Ensuring that the company's tax returns and superannuation payments are submitted on time and in full. * Keeping accurate records of the company's tax and superannuation obligations. * Taking steps to ensure that the company has the financial resources to meet its tax and superannuation obligations. If you have received a DPN, it is important to seek legal advice as soon as possible. There may be options available to you to challenge the DPN or to reduce the amount of the penalty. If you have been issues with a DPN, or have an issue with the ATO or have any other legal query regarding your agency, feel free to contact me for a confidential discussion. Lawyer for Real Estate Agents! M A Legal . . . . #lawyer #lawyers #lawyering #lawyerslife #lawyerstyle #lawyersoffice #lawyertalk #lawyerstatus #lawyeratwork #lawyerwithpersonality #lawyerandclient #lawyerbyprofession #laywerceo #CEO #ceolifestyle #ceostrategy #CEOMindset #ceolawyer #legaleducation #legaltips #legaladvice #heretohelp #realestateagents #dpn

Join myself and Meghan Medlin as we cover the very important topics: Hiring & Tax Credits!