#tax-compliance

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#hmrc

Reeves' won't raise an additional 6.5 billion a year by 2029/30 tax avoidance clampdown - London Business News | Londonlovesbusiness.com

The feasibility of raising £6.5 billion through tax gap closure is questionable due to HMRC's staffing and training limitations.

HMRC targets specialist agents in crackdown on R&D tax credit fraud

Specialist agents may contribute to higher non-compliance rates for R&D tax credit claims, necessitating stricter oversight and examination of such submissions.

HMRC's lower interest rate on late payments overshadows refund disparity

HMRC reduces late tax payment interest rates to 7.25%, highlighting unfair disparities with only 3.75% interest on refunds.
Self-employed individuals are particularly affected by the unfavorable interest rates from HMRC.

HMRC now issuing more and more of its heaviest fines for VAT errors - London Business News | Londonlovesbusiness.com

HMRC has increased its penalties for 'deliberate' VAT errors by 38%, resulting in substantial fines for businesses.

Reeves' won't raise an additional 6.5 billion a year by 2029/30 tax avoidance clampdown - London Business News | Londonlovesbusiness.com

The feasibility of raising £6.5 billion through tax gap closure is questionable due to HMRC's staffing and training limitations.

HMRC targets specialist agents in crackdown on R&D tax credit fraud

Specialist agents may contribute to higher non-compliance rates for R&D tax credit claims, necessitating stricter oversight and examination of such submissions.

HMRC's lower interest rate on late payments overshadows refund disparity

HMRC reduces late tax payment interest rates to 7.25%, highlighting unfair disparities with only 3.75% interest on refunds.
Self-employed individuals are particularly affected by the unfavorable interest rates from HMRC.

HMRC now issuing more and more of its heaviest fines for VAT errors - London Business News | Londonlovesbusiness.com

HMRC has increased its penalties for 'deliberate' VAT errors by 38%, resulting in substantial fines for businesses.
morehmrc

Loan charge under review: Second inquiry into controversial contractor tax policy announced | Computer Weekly

The UK government is reviewing the controversial Loan Charge tax policy affecting thousands of IT contractors since 2019.

A Strategic Model to Help Transform Your Tax Function - SPONSOR CONTENT FROM DELOITTE

Tax departments must evolve to meet regulatory and technological challenges while building sustainable operational models.

Groww pays $160M tax as it returns to India amid a startup relocation wave | TechCrunch

Groww paid $159.4 million in taxes after relocating to India, as many startups return for better IPO prospects.

Employers' National Insurance hike rumours bring IR35 into sharp focus - London Business News | Londonlovesbusiness.com

Increase in employers' National Insurance could significantly impact businesses mismanaging off-payroll working rules, leading to greater tax liabilities and costs.
#irs-enforcement

4 Strategies to Help Entrepreneurs Address Back Tax Issues | Entrepreneur

Entrepreneurs must urgently address back tax issues to avoid severe penalties and complications from IRS enforcement actions.

Report: IRS Taking Aim At Sports Bettors

Tax revenue from sports gambling is at risk due to widespread non-filing among bettors, prompting potential IRS enforcement actions.

4 Strategies to Help Entrepreneurs Address Back Tax Issues | Entrepreneur

Entrepreneurs must urgently address back tax issues to avoid severe penalties and complications from IRS enforcement actions.

Report: IRS Taking Aim At Sports Bettors

Tax revenue from sports gambling is at risk due to widespread non-filing among bettors, prompting potential IRS enforcement actions.
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#tax-evasion

US Treasury finalizes crypto rules to prevent tax evasion

A new rule requires cryptocurrency platforms to report users' transactions to the IRS, aiming to improve tax compliance and reduce evasion.

FATCA and its impact on US expats with UK business interests

FATCA enhances tax compliance for US citizens abroad, significantly impacting expats with foreign business interests.

Australia pursues crypto buyers' info in tax probe

Australian Taxation Office is targeting tax evading users on crypto exchanges by seeking transaction data to ensure compliance.

US Treasury finalizes crypto rules to prevent tax evasion

A new rule requires cryptocurrency platforms to report users' transactions to the IRS, aiming to improve tax compliance and reduce evasion.

FATCA and its impact on US expats with UK business interests

FATCA enhances tax compliance for US citizens abroad, significantly impacting expats with foreign business interests.

Australia pursues crypto buyers' info in tax probe

Australian Taxation Office is targeting tax evading users on crypto exchanges by seeking transaction data to ensure compliance.
moretax-evasion
#umbrella-companies

Government urged to act after four more tax avoidance schemes identified - London Business News | Londonlovesbusiness.com

HMRC's identification of more tax avoidance schemes highlights a significant issue requiring urgent regulatory changes to protect vulnerable workers.

HMRC could lose millions in unpaid tax as non-compliant umbrella enters pre-pack administration | Computer Weekly

The UK government is urged to regulate umbrella companies after Exchequer Solutions avoids repaying significant unpaid tax through pre-pack administration.

Government urged to act after four more tax avoidance schemes identified - London Business News | Londonlovesbusiness.com

HMRC's identification of more tax avoidance schemes highlights a significant issue requiring urgent regulatory changes to protect vulnerable workers.

HMRC could lose millions in unpaid tax as non-compliant umbrella enters pre-pack administration | Computer Weekly

The UK government is urged to regulate umbrella companies after Exchequer Solutions avoids repaying significant unpaid tax through pre-pack administration.
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#penalties

Landlords and solicitor among those on latest tax-defaulter list

Individuals face severe financial penalties for under-declaring taxes, with recent cases reaching hundreds of thousands of euros in settlements.

Driving instructor and retired ornament dealer among those on latest tax-defaulter list

Increased penalties show Revenue's commitment to enforcing tax compliance among professionals and individuals.

Landlords and solicitor among those on latest tax-defaulter list

Individuals face severe financial penalties for under-declaring taxes, with recent cases reaching hundreds of thousands of euros in settlements.

Driving instructor and retired ornament dealer among those on latest tax-defaulter list

Increased penalties show Revenue's commitment to enforcing tax compliance among professionals and individuals.
morepenalties
from Business Matters
2 months ago

HMRC probes nearly 800 major UK firms over suspected tax underpayments with UK banks suspected of underpaying 7.9bn

HMRC is investigating 791 major UK companies for tax underpayments, highlighting a significant focus on tax compliance across various sectors.

New Zealand to Put OECD Crypto Tax Framework in Place by April 2026

New Zealand's implementation of OECD's crypto reporting framework aims to curb tax evasion by enhancing tax compliance in crypto transactions.

Tax Challenges for Healthcare Accounting Teams Bring Opportunity for Innovation - MedCity News

Healthcare organizations face tax complexity and resource challenges, affecting core operations.

New Ecommerce Tools: May 21, 2024

Companies are enhancing services for ecommerce and omnichannel merchants, focusing on tax compliance, accessibility, inventory, social media management, and order fulfillment.

Australia's Tax Office Tells Crypto Exchanges to Hand Over Transaction Details of 1.2 Million Accounts: Reuters

Australia's tax office is targeting 1.2 million crypto traders for data to enforce tax compliance.

IRS will audit more high-income taxpayers and large corporations. Here's what that means

The IRS is intensifying audits on high-income taxpayers and large corporations to address the tax gap and is enhancing its workforce to carry out these enforcement actions.

Job Vacancy: Payroll Specialist // Blinkist | HR / Recruiting Jobs | Berlin Startup Jobs

Blinkist offers concise summaries of books and podcasts for personal and professional growth.
The Payroll Specialist role includes managing payroll processes, tax compliance, and reporting for various countries.
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