tax

FATCA nightmare becomes a reality

Tax relief on pensions should be replaced by a Treasury contribution of 50p per £1 saved, argues a radical report by Michael Johnson for influential thinktank the Centre for Policy Studies (CPS).

Industry figures have broadly praised George Osborne's 2014 Budget, pointing to the benefits created for savers.

Limited Liability Partnerships (LLPs) may rush to incorporate and deprive the Treasury of revenues after the government pushed ahead with the crackdown on current LLP taxation structures.

The Government has pushed ahead with the crackdown on LLP taxation structures, stating it will come in from this April, despite criticisms from the industry and calls for a delay.

The tax-free allowance - already set to rise to £10,000 this April - will be further increased to £10,500 from next year, George Osborne has announced in the Budget.

The House of Lords' economic affairs committee has recommended a delay to the government's imminent tax crackdown on limited liability partnerships (LLPs).

The government has launched an advertising campaign targeting taxpayers with money hidden in offshore accounts.

Former Radio 1 breakfast show host Chris Moyles tried to avoid paying £1m tax after signing up to a scheme which saw him claim he was a used car salesman.

Platform fees will remain VAT exempt, according to guidance released by HM Revenue and Customs.