Independent Review Into Loan Charge

We’ve appointed Sir Amyas Morse to lead an independent review of the Loan Charge. He’ll:
✅Consider if the charge is the right way to tackle individuals’ use of the tax avoidance schemes
✅Report back by mid-November
Find out more: https://t.co/YSJX5JDfjW pic.twitter.com/UKRLecnLCm

— HM Treasury (@hmtreasury) September 11, 2019

Tax does have to be taxing.

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HMRC Conducting Internal Review of The Loan Charge

So.....theres an internal 'review'of the Loan Charge just starting at @HMRCgovuk. Its almost like they are worried, ahem.
*cue HMRC thinking 'how the f*** does Manley know that!??
I know more but that can wait to protect those assisting. pic.twitter.com/qaXYdQ5fuI

— Phil Manley (@pmanley82) June 23, 2019

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



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 Review of Its Powers of Entry

HMRC was ordered by the Chancellor to review its powers of entry, and published a report on 27 November.

HMRC has 39 powers, nine of which belonged to other departments or were powers to inspect rather than enter.

Five of the remaining 30 powers will be "modernised/consolidated".

It is interesting to note that HMRC performed the review itself, and itself determined "that 25 of the 30 powers need no amendment because they are necessary and proportionate in their current form".

Surely the review should have been performed by an independent party?

Anyhoo, leaving aside the thorny question of independence, as per HMRC:

"Under the Protection of Freedoms Act 2012, each secretary of state must review the powers of entry they are responsible for, and report back to Parliament.

This review, ordered by Chancellor of the Exchequer George Osborne MP, examines the powers of entry held by HM Revenue and Customs (HMRC).

It was laid before Parliament on 27 November 2014.

In summary, HMRC reviewed 39 powers.

Nine were found to belong to other departments or be powers to inspect rather than enter.

HMRC will retain 25 of the 30 powers in their current form. All of these powers were previously reviewed after the merger of HM Customs & Excise and the Inland Revenue in 2005, and this further review has reaffirmed that they are still proportionate and necessary.

There are five powers where there is a clear case for modernisation and consolidation, including a number relating to betting and debt management. These have been recommended for amendment and this will take place by the end of 2014."

Something worth keeping an eye on methinks!