http://www.lynamtax.co.uk/news Just another WordPress weblog Tue, 03 Aug 2010 13:34:43 +0000 http://backend.userland.com/rss092 en Initial figures suggest that around 74,000 UK tax residents claimed non-domicile status for the 2008/09 tax year of whom 4,600 UK claimed the remittance basis and paid the £30,000 Remittance Basis Charge; according to an answer to a parliamentary question. Major changes to the UK taxation of so-called non-domiciliaries (non-doms) were ... http://www.lynamtax.co.uk/news/4600-non-doms-pay-30k-rbc/2010/07/07/ HMRC have published a briefing note explaining the newly introduced Overpayment Relief; which replaced  Error or Mistake Relief from 1st April 2010. Overpayment Relief applies to errors and mistakes made by taxpayers in their Tax Returns for  income tax, capital gains tax and corporation tax.  Claims for Overpayment Relief must ... http://www.lynamtax.co.uk/news/claiming-overpaid-tax-hmrc-briefing-note/2010/07/01/ A London accountant has been sentenced to 8 years in prison for stealing £11m in Income Tax and Value Added Tax: by falsifying his clients’ and his own tax returns. Christos Charalambous (58) of Palmers Green, filed Self Assessment tax returns for clients.  These included fictitious expenses claims, which increased ... http://www.lynamtax.co.uk/news/accountant-jailed-for-11m-tax-fraud/2010/07/01/ Major changes to the UK taxation of so-called non-domiciliaries (non-doms) were introduced from April 2008.   Many UK tax resident non-domiciled taxpayers want to know if they should pay tax on the arising basis (facing a UK tax bill on their worldwide income as it arises) or pay the £30,000 Remittance ... http://www.lynamtax.co.uk/news/faq-remittance-basis-charge-should-i-pay-it/2010/06/24/ The Swiss parliament approved a deal yesterday to help the IRS (the Yanks’ tax authority) get the names of American citizens with secret bank accounts with UBS, according to the Washington Post.  Effectively this is an historic weakening of traditional Swiss bank secrecy standards and may be the death knell ... http://www.lynamtax.co.uk/news/is-this-the-end-for-swiss-banking-secrecy/2010/06/19/ A landmark tax case involving UK tax residence is moving through all the stages of the UK legal system. The latest court decision against Mr Gaines-Cooper shows the increasing complexities facing anyone having to prove they are no longer Tax Resident in the UK. Robert Gaines-Cooper has been fighting for ... http://www.lynamtax.co.uk/news/424/2010/06/03/ The FT reported today that the new coalition government intends  "to review the taxation of non-domiciled individuals” - yet again, creating further uncertainty in this already over-complicated area of UK tax. Potential changes include scrapping the seven year period of grace; which mainly benefits in-bound professionals on short term contracts ... http://www.lynamtax.co.uk/news/new-government-to-turn-on-non-doms/2010/05/21/ If you are unhappy about the way the taxman is treating you then you can complain to the Official Adjudicator or to the Ombudsman.  Both have issued ‘school reports’ on HMRC for the year ended 31st March 2009.  Many complaints are to do with how HMRC handled a Tax Enquiry ... http://www.lynamtax.co.uk/news/how-did-the-taxman-behave-%e2%80%93-end-of-term-reports-2009/2010/05/15/ HMRC has made a major change in debt collected practice in appeal cases.  In direct tax cases, when a taxpayer appeals to the Tax Tribunal against an assessment or closure notice, HMRC used to postpone the payment of the disputed tax pending the outcome of the litigation. If the Tax ... http://www.lynamtax.co.uk/news/tax-appeal-now-it%e2%80%99s-pay-as-you-go/2010/04/06/ The taxman is now allowed to override confidentiality to name and shame tax evaders.  From 1st April 2010 it’s no joke for anyone the taxman thinks has a tax fraud of more than £25,000.  The tax office will publish names and "sufficient further information” to allow tax fiddlers to be ... http://www.lynamtax.co.uk/news/naming-and-shaming-begins-could-your-name-end-up-on-the-tax-offenders%e2%80%99-register/2010/04/01/