Withers issues cash call to partners

The Lawyer: Withers has issued a cash call to its equity partners, with partners allegedly asked to pay out as much as £5,000 per point.

Full story: http://www.thelawyer.com/analysis/the-lawyer-management/management-news/withers-issues-cash-call-to-partners/3008737.article

Baker Tilly confirms acquisition of RSM Tenon

Accountancy Age: Baker Tilly has announced an agreement to acquire the trading operations of RSM Tenon Group.

Full story: http://www.accountancyage.com/aa/news/2290489/baker-tilly-confirms-acquisition-of-rsm-tenon

Michael Parkinson returns to Macfarlanes

Private Client Adviser: Macfarlanes has appointed Michael Parkinson as a partner in the private client practice to advise high-net-worth individuals on the full range of wealth management issues.

Full story: http://www.privateclientadviser.co.uk/news/legal-practice/michael-parkinson-returns-macfarlanes

Smith & Williamson to advise members on new Family Bhive investment platform

Citywire: Family Bhive, the social network for high net worth (HNW) investors, is launching an investment platform for its 500 members who each have in excess of £5 million in assets.

Full story: http://citywire.co.uk/wealth-manager/smith-and-williamson-to-advise-members-on-new-family-bhive-investment-platform/a698933?ref=wealth-manager-all-stories-list

Institute welcomes consultation on targeted anti-avoidance proposals

CIOT: The Chartered Institute of Taxation (CIOT) has welcomed the launch today of a government consultation on tax avoidance schemes and supports HMRC in trying to tackle the problems in this area.

Full story: http://www.tax.org.uk/media_centre/Press+Releases/CIOT_welcomes_tax-avoidance_proposals?

Put tax on school curriculum urges CIOT

Accountancy Live: CIOT is calling on the government to provide all pupils with a basic tax education, arguing that understanding financial matters is an essential requirement to understanding the world outside school.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2704461

HMRC sets out plans for stricter tax avoidance regime

Citywire: HM Revenue & Customs (HMRC) has set out plans for a new regime which will target advisers marketing tax avoidance schemes and give the taxman the power to levy fines of up to £1 million for those who fail to comply with its rules.

Full story: http://www.citywire.co.uk/new-model-adviser/hmrc-sets-out-plans-for-stricter-tax-avoidance-regime/a697012?ref=new-model-adviser-todays-news-list

‘Cowboy’ advisers face £1m fines under new HMRC rules

Citywire: Advisers who sell aggressive tax avoidance schemes could face fines of up to £1 million under new HM Revenue & Customs (HMRC) plans to be unveiled today, according to The Times.

Full story: http://www.citywire.co.uk/new-model-adviser/cowboy-advisers-face-1m-fines-under-new-hmrc-rules/a696862?ref=new-model-adviser-todays-news-list

Tempted by tax avoidance?

ICAEW: A new leaflet about tax avoidance.  HMRC has produced a leaflet Tempted by tax avoidance? which you can download from the link. 

Full story: http://www.ion.icaew.com/taxfaculty/27316?

Deloitte UK pays 740 partners average of £772,000

The Guardian: Business advisory group's revenues up 8% amid evidence 'businesses have reached turning point in terms of confidence'

Full story: http://www.theguardian.com/business/2013/aug/12/deloitte-uk-partners-pay?

KPMG tax partner urges government to reform tax rules

Accountancy Live: The government must seize a ‘golden opportunity to simplify and drag the UK tax system out of the 19th century’ and into the modern world by adopting a number of radical new proposals.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2704472

Greece’s tax avoiders head to London, says deputy leader

Evening Standard: The Greek foreign minister has declared that London, not Switzerland, is now the biggest destination for his country’s tax avoiders.

Full story: http://www.standard.co.uk/business/business-news/greeces-tax-avoiders-head-to-london-says-deputy-leader-8754221.html

HMRC issues public warning on tax avoidance

Accountancy Live: In the drive to clamp down on tax avoidance, HMRC has issued a somewhat confusing leaflet aimed at the public entitled ‘Tempted by Tax Avoidance?’

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2704480

Concern IHT 'pilot' trust tax change could be retrospective

Money Marketing: Concerns have been raised that changes to the inheritance tax treatment of so-called ‘pilot’ trusts could be applied retrospectively.

Full story: http://www.moneymarketing.co.uk/iht-/-tax-planning/concern-iht-pilot-trust-tax-change-could-be-retrospective/1075466.article?

Inheritance tax burden becoming a top priority

Mortgage Introducer: Reducing inheritance tax liabilities is becoming the number one priority for a growing number of households, independent financial advisory group deVere’s has said.

Full story: http://www.mortgageintroducer.com/mortgages/247214/4/Daily_news/Inheritance_tax_burden_becoming_a_top_priority.htm?

Childcare vouchers for couples earning up to £300k

Accountancy Live: The government is consulting on plans to introduce a tax-free childcare scheme for working families despite cutting the child benefit scheme for higher paid earners earlier this year. Under the outlined proposals, the scheme will be available for couples earning up to £300,000.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?contentId=2694862

Middle classes targeted as tax evasion prosecutions double

Daily Telegraph: The number of criminal prosecutions for tax evasion has more than doubled in the past year as middle-class professionals are increasingly being targeted for ­investigation.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10221452/Middle-classes-targeted-as-tax-evasion-prosecutions-double.html

HMRC tax evasion prosecutions double

Accountancy Live: HMRC prosecuted twice as many people for tax evasion in 2012 compared with the twelve months previously.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2689379

Bankers delayed bonuses for tax advantage, claims Labour

Accountancy Age: Bankers may have delayed their bonuses this year in order to take advantage of the drop in the income tax rate to 45p from 50p, according to Labour.

Full story: http://www.accountancyage.com/aa/news/2286840/bankers-delayed-bonuses-for-tax-advantage-claims-labour?

HMRC targets middle class as tax evasion prosecutions double

Citywire: The number of criminal prosecutions being brought over tax evasion has more than doubled in the last year.

Full story: http://www.citywire.co.uk/new-model-adviser/hmrc-targets-middle-class-as-tax-evasion-prosecutions-double/a695896?ref=new-model-adviser-todays-news-list

Father and son locked in legal battle over trust fund

Daily Telegraph: A wealthy property investor who tried to beat inheritance tax by setting up a trust fund for his son has become locked in a bitter legal battle with him after using the cash to buy a property in the South of France.

Full story: http://www.telegraph.co.uk/news/uknews/law-and-order/10217490/Father-and-son-locked-in-legal-battle-over-trust-fund.html

IHT take up 9% since £325k threshold frozen

Accountancy Live: HMRC revenues from inheritance tax (IHT) have gone up by 9% since the threshold was frozen at £325,000 in 2009, according to analysis by Saffery Champness.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2689370

HMRC cancels ‘nudge' campaign for non-doms

IFA Online: Her Majesty's Revenue & Customs (HMRC) has cancelled a campaign designed to educate non-UK domiciled (non-dom) individuals about making remittances following concerns from an accountancy body.

Full story: http://www.ifaonline.co.uk/ifaonline/news/2286425/hmrc-cancels-nudge-campaign-for-nondoms?

Inheritance tax at highest level since 2007

Daily Telegraph: Families paid more than £3bn IHT in the year to April - the biggest sum since the onset of the credit crisis.

Full story: http://www.telegraph.co.uk/finance/personalfinance/houseprices/10214816/Inheritance-tax-at-highest-level-since-2007.html