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HMRC wins a significant tax avoidance case at the First-tier Tribunal

HMRC wins a significant tax avoidance case at the First-tier Tribunal

HMRC recently reported that it has won a significant tax avoidance case at the First-tier Tribunal.

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HMRC Collects Over £2 Billion from Tax Avoidance Scheme Users

HMRC Collects Over £2 Billion from Tax Avoidance Scheme Users

HMRC has apparently collected more than £2 billion in disputed tax from tax avoiders, under rules introduced by the Government in 2014.

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Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

The number of Scottish firms undergoing business insolvency in the whole of 2015 was down 7.6% during 2015 according to analysis of the latest figures by restructuring, recovery and insolvency boutique mlm Solutions. The latest Accountant in Bankruptcy (AiB) figures show that 828 Scottish firms failed during 2015 compared with 896 the previous year (please note that the AiB uses the financial year April to March as its base so although their current figure states Q3 this refers to October to December 2015 which we call Q4). However, there was a 41.1% increase between Q3 and Q4 and a 31.5% increase on the same quarter in 2014 and this marks two consecutive substantial increases in the latter half of 2015.

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Self Assessment may lead to financial distress

Self Assessment may lead to financial distress

Filling in a self assessment form by January 31st may not be the only problem many individuals, business owners and high net worth individuals face, according to recovery, restructuring and insolvency boutique mlm Solutions.

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Contractors Now on HMRC’s Radar

Contractors Now on HMRC’s Radar

Many contractors across the UK are facing bankruptcy after becoming the latest target for HMRC in its pursuit of unpaid tax. Those affected can expect to receive a demand for backdated taxes, which can relate to periods of employment from many years ago, to be paid in full within a three-month deadline.

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