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Offshore evasion: One last chance?

HMRC has launched a consultation entitled “Tackling Offshore Evasion: A Requirement to Correct (RTC)”.  Open until 19 October 2016, the consultation proposes the introduction of new legislation

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Strengthening Tax Avoidance Sanctions and Deterrents: A discussion document

Today HMRC have released a consultation document: Strengthening Tax Avoidance Sanctions and Deterrents. This may affect those who design, market or facilitate the use of tax avoidance arrangements.

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Tackling Disguised Remuneration - UK consultation

In its latest crackdown on disguised remuneration the UK government have published the following consultation with a view to rules being enacted in the Finance Bill 2017. See here


All change for non-doms but what should you do now?

There have been lots of announcements and promises of consultation in or around the budget 2016 concerning non-UK domicilaries but what might this all mean given Brexit and what should you be doing?Read more


IOM introduces tougher stance on disclosures of errors in tax returns from 6 October 2016

The Isle of Man’s Income Tax Division (“ITD”) is changing its practice with effect from 6 October 2016 with regard to charging penalties where an incorrect tax return has been submitted.  If

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New tax on property transactions – far reaching legislation just published

Trust and Corporate Service Providers (TSP/CSPs) will need to consider the new ‘Profit from Trading and Developing UK Land’ legislation for most if not all property transactions (even as a matter

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Consultation on enhanced tax requirements for accounting records

The Isle of Man’s Income Tax Division (“ITD”) has issued a consultation document containing proposed regulations to update the Island’s income tax legislation on the making and keeping of

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Isle of Man’s High Court of Justice sets aside transaction

Deemster Doyle’s judgment in the Isle of Man’s High Court of Justice concerning the “proper deliberation rule” in Hastings-Bass, as well as the court’s jurisdiction to set aside a voluntary

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Land Development Tax

HMRC publish legislation on land development tax on 6 July 2016 - see here


Relocate your business to the IOM!  Easy to do or easy to say?

There is much talk about relocating businesses and I am sure it was a hot topic at the recent Islexpo.  For the would-be relocater there is a veritable pot of gold at the end to look forward to in

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UK withholding tax on royalties

The government announced on 16 March 2016 that it intended to introduce legislation in Finance Bill 2016 to reform the rules governing the deduction of income tax at source from payments of

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Tackling tax havens

Margaret Hodge has tabled an amendment to the Finance Bill which ‘encourages the Government to get tough on tax havens’. The amendment will require the Chancellor to publish, within 12 months of

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HMRC dismisses appeal against discovery assessment despite white space disclosure in tax return

In S Miesegaes v HMRC [2016] UKFTT 0375 (TC) (31 May 2016) the First-tier Tribunal (“FTT”) dismissed an appeal against a discovery assessment on income received in the taxpayer’s capacity as

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HMRC wins appeal against penalty for deliberate inaccuracy (VAT) and 100% attribution to director

In Clynes v HMRC [2016] UKFTT 369 (TC) (“Clynes”) the First-tier Tribunal (“FTT”) dismissed an appeal against a penalty assessed on Mr Clyne, a director and sole shareholder of 247 Security

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HMRC updates its RDR1 guidance on Residence, Domicile and the Remittance Basis

HMRC has updated its RDR1 guidance ‘Residence, Domicile and the Remittance Basis’, replacing the version published in September 2015.  There is only one minor update (to the flow chart ‘Do you

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