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HMRC

HMRC rakes in £126m from lifetime allowance penalties

Europe | 19 Sep 16

HMRC rakes in £126m from lifetime allowance penalties

HM Revenue & Customs has reported a significant rise in the number of British savers breaching the lifetime pension allowance (LTA) over the past year, collecting £126m ($163m, €146m) in additional tax revenue between 2015/16, up 38% from £78m the previous year.

HMRC sets date for UK VAT charge on international insurers

Tax & Regulation | 6 Sep 16

HMRC sets date for UK VAT charge on international insurers

New UK VAT rules are set to hit Gibraltar and Channel Islands based insurers when they are introduced on 1 October.

HMRC plans tougher penalties for offshore tax evaders

Best Practice | 24 Aug 16

HMRC plans tougher penalties for offshore tax evaders

The UK tax office has announced plans to increase the penalties on anyone who has not paid outstanding taxes from offshore investments ahead of the start of a new data sharing agreement with the crown dependencies and territories in October.

Advisers face hefty fines in HMRC tax avoidance crackdown

Best Practice | 17 Aug 16

Advisers face hefty fines in HMRC tax avoidance crackdown

Tax advisers and accountants in the UK who help clients avoid paying tax could face fines of 100% of the tax avoided, according to new proposals being considered by HM Revenue and Customs (HMRC).

Harry Potter star loses £1m legal battle against HMRC

Tax & Regulation | 10 Aug 16

Harry Potter star loses £1m legal battle against HMRC

British actor Rupert Grint has lost his battle against HM Revenue & Customs (HMRC) for a £1m (€1.17m, $1.3m) refund after a court threw out his appeal to protect his earnings from the top rate of tax.

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.