HMRC Did Well With SEISS

 

The Mirror reports that HMRC has miscalculated thousands of SEISS grants given to the self-employed to help them through the coronavirus crisis.

It seems that HMRC has overpaid approximately 16,200 grants ( 0.6% of the total).

HMRC has written to all those affected by the error which arose from “failing to take into account all relevant information when determining eligibility”.

They will not be asked to repay the funds, but should expect a lower sum should they make an application for a second grant.

Given the magnitude of the task, and speed with which it was enacted, I think an error rate of 0.6% is bloody good.

Kudos to HMRC on this one!

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

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A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

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ICAEW Calls For Independent Oversight of HMRC’s Charter

 

The ICAEW has responded to the consultation on draft revisions to HMRC’s Charter, calling for 

- more detail behind the aspirations, 

- specific performance measurement criteria and

- independent oversight by a body such as the National Audit Office.

 
HMRC’s Charter sets out the standard of behaviour and values that HMRC aspires to when interacting with customers (taxpayers).

The consultation addresses the proposed changes to the HMRC Charter, including whether the draft wording sets the right standards for HMRC customer service and whether it covers the areas that are most important to taxpayers. It also addresses how HMRC should monitor its performance against the Charter.

The ICAEW’s view is that the accessible format of the draft should be retained, but should be backed up with more detail on how the aspirations translate into actions with specific measurement criteria against each action. 

 The ICAEW also calls for HMRC to be held more accountable for its performance against the Charter, perhaps through independent review by a body such as the National Audit Office.

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

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Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.


HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC Accuses GE of $1BN Tax Fraud

In 2012, General Electric’s director of tax policy, Will Morris, received a trophy from HMRC, in recognition for his role in “informing the public debate on large business and tax and condemning tax evasion and abusive tax arrangements with no commercial purpose”.

However, move forward 8 years and HMRC are now accusing GE of a $1BN tax fraud.

The FT reports that the it stems from just before Christmas in 2005 when GE’s tax team convinced HMRC to approve a tax deduction on a controversial transaction that would go on to save the company hundreds of millions of dollars.

The agreement, reached after six months of meetings with HMRC, meant GE could circulate billions of dollars between the US, the UK and Australia without falling foul of Britain’s new anti-arbitrage tax laws, which had come into force just months earlier.

HMRC has claimed that it was deceived by GE during the six months of negotiations in order for it to obtain a “triple dip” tax advantage in all three countries. It has alleged that the US group misled its executives into believing the transaction would be used to invest in an Australian business, when instead, it claims, the money was moved around the group for the purpose of creating tax deductions.

HMRC has asked the High Court to annul the 2005 agreement, which would force GE to pay 15 years of taxes on the transaction, plus interest and fines, totalling more than $1bn.

GE has denied it misled HMRC about the nature of the transaction and hast has countersued in an attempt to force HMRC to drop the case. “GE complies with all applicable tax laws in every country where we do business, and we reject the UK tax authority’s allegations and are vigorously contesting these false claims,” it said in a statement.

The case is expected to turn on what was said in the first meeting between GE and HMRC on April 1 2005. GE claims it was clear about the purpose of the transactions during the meeting.

“The defendants will rely at trial on the evidence of what representations were actually made . . . as opposed to what are now merely inferred by HMRC.”

This will run and run!

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.


HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC's APN Collateral Damage

Graham Webber, Tax Director of WTT Consulting, is quoted by Contractor UK referring to the high level of withdrawn APNs:

“Except where the sums are large or there is suspected serious abuse or a particular sector is subject to a targeted campaign, such as contractors [have been], the ‘broad-brush’ approach to compliance [which APNs deliver] is sufficient to satisfy those who oversee them.

The fact that it creates confusion and cost and considerable anxiety for individuals on the wrong end of false or inappropriate APNs, we guess is seen as ‘collateral damage’ by HMRC’s strategists.

In short, unless you are worthy of individual attention from HMRC, the ‘one-size-fits-all’ strategy [of APNs] works most of the time, for most people [from the Revenue’s perspective].”

In other words, HMRC doesn't give a flying fuck!

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.


HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Nova Comment Accidentally Deleted

Apologies to the loyal reader who tried to post a comment about Nova, I have accidentally deleted it.

Please repost🙂

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.


HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC Loan Charge Refunds

Apply for a refund or waiver from the Disguised Remuneration Repayment Scheme 2020

Check if you qualify for a refund of Income Tax and National Insurance contributions paid, or a waiver of payments being made, in settlement of disguised remuneration scheme use.

This guidance is for those who used disguised remuneration avoidance schemes between 6 April 1999 and 5 April 2016, from which disguised remuneration loans were made, and settled the tax due with HMRC on or after 16 March 2016 and before 11 March 2020. If this applies to you and you paid some or all of the tax or National Insurance contributions voluntarily to avoid the loan charge, you may be eligible for a refund or waiver.

If you’re eligible for a refund or waiver, we’ll write to you as soon as we can inviting you to apply. We’ll provide you with an application form and the details of how to apply. Attached is an example application form (PDF, 246KB, 1 page) for information.

If you’ve not heard from us by 1 October 2020 and you think you’re eligible for a refund or waiver, contact us by phone on: 03000 534 226 or email at: ca.loancharge@hmrc.gov.uk.

More details here.

Tax does have to be taxing.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

• Deal with any correspondence from HMRC
• Attend any meeting with HMRC
• Appeal to the First-tier Tribunal or Upper Tribunal
• Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
• Premiums are Annual Premiums.
• Premiums are inclusive of 12% IPT. 
• Premiums and IPT are due in full in advance / at commencement of scheme.
• There is a NIL excess on all policies.

Please click here for details.


HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"