Investors with accounts in the Isle of Man are being offered an opportunity to put their tax affairs in order before the UK and Isle of Man governments automatically exchange information on their accounts. The two governments have agreed the main body of an automatic exchange agreement, under which a wide range of financial information… Read more…

Tax investigators are to target people who have sold properties that are not their main homes and have not informed HM Revenue and Customs (HMRC) about any profit made. The Property Sales Campaign, which HMRC launched on 5 March, is aimed at people selling homes in the UK or abroad, where capital gains tax (CGT)… Read more…

More people with higher incomes and substantial assets could be facing tax investigations following an increase in the tax team that focuses on their affairs. HM Revenue and Customs (HMRC) announced on 16 January that its affluent compliance team is to recruit 100 extra inspectors. The team currently has 200 staff based in 17 teams… Read more…

Tax chiefs have issued a new year call to employers, urging them to ensure they are ready for major PAYE changes that come into effect in three months’ time. In April 2013, employers will have to start sending PAYE returns electronically, using Real Time Information (RTI)-enabled payroll software, to HM Revenue and Customs (HMRC) each… Read more…

The government has announced changes to the rules on larger scale redundancies that will cut by half the consultation period required. Under the measures announced on 18 December, the current 90-day minimum period that applies where 100 or more employees are to be made redundant will be reduced to 45 days. Announcing the move, Employment… Read more…

Updated details have been released of the government’s new general anti-abuse rule (GAAR), which could see more people becoming the subject of tax investigations. The government published amended legislation and draft guidance on the GAAR on 11 December, as part of its draft Finance Bill 2013. The GAAR will take effect following the granting of… Read more…

Employment relations service Acas has highlighted motivating and engaging employees as key challenges for employers in 2013. Looking forward over the next 12 months, John Taylor, Acas chief executive, said that with the economy still struggling, there could be increasing tensions and conflict around pay, adding: “Pressure on employers to keep wage costs under control… Read more…

The Department for Work and Pensions has announced new statutory payment rates for 2013-14, which are due to take effect from April 2013. The rates for maternity, paternity and adoption pay will rise by £1.33 a week on the 2012-13 rates. For Statutory Sick Pay, the weekly increase on the 2012-13 rate is 85p. The… Read more…

The government has again underlined its focus on tackling tax avoidance by closing down a scheme being marketed as a way for companies to artificially reduce corporation tax bills. The scheme, which sought to exploit rules that automatically allow certain types of expenditure to be deducted from profits, was notified to HM Revenue & Customs… Read more…

More than 1,500 people took a break from turkey and tinsel on Christmas Day to file their tax returns online, according to new figures from HM Revenue & Customs (HMRC). HMRC said 1,548 people filed tax returns online on Christmas Day, a 40 per cent increase on 25 December 2011 when 1,100 people did so.… Read more…