Reward Strategy news and training

Tax avoidance collection released

HMRC has launched its collection of guidance on Tax Avoidance: enablers.

TwitterLinkedIn

The documents give details on who classes as an enabler of tax avoidance, the penalties and what to do if you may be liable to a penalty for enabling tax avoidance.

 

Tax arrangements are deemed “abusive” if they are entered into or carried out and cannot be regarded as a reasonable course of action in relation to the relevant tax provisions.

 

Examples of abusive tax arrangements outlined in the Finance Act (No 2) 2017 are:

 

• The arrangements result in an amount of income, profits or gains for tax purposes that is significantly less than the amount for economic purposes;

• The arrangements result in deductions or losses of an amount for tax purposes that is significantly greater than the amount for economic purposes;

• The arrangements result in a claim for the repayment or crediting of tax (including foreign tax) that has not been, and is unlikely to be, paid.

 

HMRC’s guidance relates specifically to the treatment of those who enable these abusive schemes to operate. An enabler is any person who is responsible, to any extent, for the design, marketing or otherwise facilitating another person to enter into abusive tax arrangements.

 

The General Anti-Abuse Rule (GAAR) Advisory Panel provides an important safeguard for the purpose of applying this legislation. No penalty can be charged unless HMRC has obtained an opinion of the GAAR Advisory Panel in relation to the tax arrangements or equivalent arrangements.

TwitterLinkedIn
Add New Comment
LoginRegister

You might also like

Time to update: How apps can transform reward management

Latest edition’s highlights: → Cover feature: What impact are technological innovations having in today’s workplaces? page 12 → #WHATNEXT?: Organisations need to make issues such as sexual harassment, which are obvious to the victims, visible to the wider society - page 20 → School’s out for summer: A recent Employment Tribunal case confirms the correct calculation of holiday pay for term-time workers - page 24

Companies to publish pay ratio of CEO to whole workforce

The government has called for public companies, listed on the stock exchange, to annually report the ratio of chief executive’s (CEO) pay to the average pay of their UK workforce

Guidance: HMRC’s April communications 

Learning is all about communication and education. HMRC are, admirably, trying this in a number of ways such as live and recorded webinars and a host of other tools available on GOV.UK

The Rewards: Open for entries

Reward Strategy is pleased to announce the return of The Rewards­, the most distinguished awards on the industry’s calendar, taking place on November 8 at Hilton London Bankside

Payroll & Reward Conference

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy
Reward Strategy RSS

Did you find our website useful?

Thank you for your input

Thank you for your feedback

reward-strategy.com - an online news and information service for the UK’s payroll, reward, pensions, benefits and HR sectors. reward-strategy.com is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Reward Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd