Richard Alderson, a Senior Manager in the PricewaterhouseCoopers LLP tax investigations network, provides a summary of the new penalties regime
Richard Alderson a Senior Manager in the PricewaterhouseCoopers LLP tax investigations network provides a summary of the new penalties regime
Background and Aims
Following the merger of the then Inland Revenue and Customs & Excise HMRC inherited a wide-ranging and confusing collection of penalty powers covering both direct and indirect taxes. In order to make the tax system simpler and more consistent the Finance Act (FA) 2007 Sch 24 was introduced in an attempt to align penalties for all taxes. FA 2008 introduced amendments and also introduced a new 'failure to notify' regime. As can...
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Richard Alderson, a Senior Manager in the PricewaterhouseCoopers LLP tax investigations network, provides a summary of the new penalties regime
Richard Alderson a Senior Manager in the PricewaterhouseCoopers LLP tax investigations network provides a summary of the new penalties regime
Background and Aims
Following the merger of the then Inland Revenue and Customs & Excise HMRC inherited a wide-ranging and confusing collection of penalty powers covering both direct and indirect taxes. In order to make the tax system simpler and more consistent the Finance Act (FA) 2007 Sch 24 was introduced in an attempt to align penalties for all taxes. FA 2008 introduced amendments and also introduced a new 'failure to notify' regime. As can...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")