The top one per cent of earners pay over a quarter of all income tax, according to the Institute of Fiscal Studies

CityAM: The UK's top one per cent of earners is now paying more than a quarter of all income tax, according to a new report.

Full story: http://www.cityam.com/239878/the-top-one-per-cent-of-earners-pay-over-a-quarter-of-all-income-tax-according-to-the-institute-of-fiscal-studies

Number of late tax returns declines, ICAEW finds

ICAEW: According to the institute’s research, 10.39 million returns were filed by the January deadline, 150,000 more than last year.

Full story: http://economia.icaew.com/news/april-2016/number-of-late-tax-returns-declines-icaew-finds

Prince 'left no will', says sister

The Independent: Prince left no will when he died last week, according to court documents filed by his sister, potentially leading to complications for the star’s financial and musical legacy estimated to be millions of dollars.

Full story: http://www.independent.co.uk/news/people/prince-left-no-will-says-sister-a7002721.html

Solicitors suspended over tax avoidance schemes after SRA appeal

Solicitors Journal: Two solicitors have been suspended for three years by the Solicitors Disciplinary Tribunal (SDT) for their involvement in operating tax avoidance schemes.

Full story: http://www.solicitorsjournal.com/news/regulation/regulators/26325/solicitors-suspended-over-tax-avoidance-schemes-after-sra-appeal

Barely more than half of adults pay income tax, says report

The Guardian: Receipts from individuals and companies have fallen, while VAT and banks pay more to the Treasury, finds IFS research.

Full story: http://www.theguardian.com/politics/2016/apr/26/barely-more-than-half-of-adults-pay-income-tax-says-report

John Cooney joins Smith & Williamson from EY

Smith & Williamson: Smith & Williamson, the accountancy, investment management and tax group, is pleased to announce the appointment of John Cooney as a partner.

Full story: http://www.smith.williamson.co.uk/news/8571-john-cooney-joins-smith-williamson-from-ey

Accountancy firm appoints new tax Partner

Wilkins Kennedy: Top 20 UK accountancy firm, Wilkins Kennedy, has just appointed David Kitson who will join as a tax Partner from 12th April 2016. 

Full story: http://www.wilkinskennedy.com/news-press/wk-press-releases/accountancy-firm-appoints-new-tax-partner/

The Spotlight On The Rich Shines Brighter Than Ever

Irwin Mitchell: With The Sunday Times ready to publish its 2016 Rich List this weekend, leading lawyers from Irwin Mitchell Private Wealth say the financial affairs of wealthy people have never come under more scrutiny. 

Full story: http://www.irwinmitchell.com/newsandmedia/2016/april/the-spotlight-on-the-rich-shines-brighter-than-ever-jq-157403

Irwin Mitchell to scrap Thomas Eggar name as it merges private wealth teams

Legal Week: Irwin Mitchell is to scrap the Thomas Eggar name as it combines its private client offerings under a new brand called Irwin Mitchell Private Wealth. 

Full story: http://www.legalweek.com/legal-week/news/2455371/irwin-mitchell-to-scrap-thomas-eggar-name-as-it-merges-private-wealth-teams

Lucian Freud’s estate offsets £560,000 inheritance tax by gifting self-portrait to the nation

Daily Telegraph: A recently discovered self-portrait by Lucian Freud is to go on display at the National Portrait Gallery after the artist's estate left it to the nation in lieu of paying inheritance tax. 

Full story: http://www.telegraph.co.uk/tax/inheritance/lucian-freuds-estate-offsets-560000-inheritance-tax-by-gifting-s/

Big Four in top employers for women 2016

ICAEW: Deloitte, EY, KPMG and PwC have all been named in the 2016 top 50 employers for women.

Full story: http://economia.icaew.com/news/april-2016/big-four-in-top-employers-for-women-2016

IHT rule change clash flagged for advisers

FT Adviser: Advisers have been warned to scrutinise clients’ will arrangements or risk losing their loved ones incoming extra inheritance tax allowances because they have relied on discretionary trusts.

Full story: http://www.ftadviser.com/2016/04/18/ifa-industry/tax-planning/iht-rule-change-clash-flagged-for-advisers-CG8POqr1bbc1iG1cnNPBbO/article.html

HMRC still not doing enough to tackle tax fraud, says PAC

ICAEW: HMRC needs to increase investigations and prosecute more wealthy tax evaders in order to tackle tax fraud in the UK, according to the Public Accounts Committee (PAC).

Full story: http://economia.icaew.com/news/april-2016/hmrc-still-not-doing-enough-to-tackle-tax-fraud-says-pac

HMRC goes after just 35 tax dodgers a year

The Times: Only 35 wealthy British tax dodgers are investigated by Revenue & Customs each year despite tax fraud costing the country an annual £16 billion, according to a committee of MPs.


Full story: http://www.thetimes.co.uk/edition/news/hmrc-goes-after-just-35-tax-dodgers-a-year-2spwlsf7r

Report urges families to plan ahead to avoid heavy succesion taxes

Campden FB: Families should plan ahead to ensure they can make use of tax exemptions when businesses are transferred from one generation to the next, a report has advised. Global Family Business Tax Monitor,released by KPMG, found that tax rates of 40% or more on the transfer of a €10 million family business through inheritance or retirement can be cut to zero once exemptions are factored in.

Full story: http://www.campdenfb.com/article/report-urges-families-plan-ahead-avoid-heavy-succession-taxes

New HMRC leadership pledges smaller, more digital service

CCH Daily: HMRC’s new executive leadership plans to maximise revenues, crack down on avoidance and evasion, transform tax and payments, and design and deliver a professional, efficient and engaged organisation, according to information given to MPs.

Full story: https://www.cchdaily.co.uk/new-hmrc-leadership-pledges-smaller-more-digital-service

Supreme Court rules against football bosses' tax scheme

CityWire: Investors including Alex Ferguson and Sven-Göran Eriksson face huge tax bills after Supreme Court rules against Eclipse 35 scheme.

Full story: http://citywire.co.uk/money/supreme-court-rules-against-football-bosses-tax-scheme/a898375