HMRC prosecutes 1,135 tax offenders

ICAEW: HMRC has issued 1,135 prosecutions for tax offences last year, Thomson Reuters has revealed.  The Revenue exceeded its target of 1,000 prosecutions in 2015/16, placing emphasis on investigating tax evasions among businesses more than wealthy individuals.

Full story: http://economia.icaew.com/en/news/september-2017/hmrc-prosecutes-1135-tax-offenders

UK solicitors are warned that assisting tax avoidance may now be misconduct or even illegal

STEP: The Solicitors Regulation Authority (SRA) has instructed all solicitors to comply with the Code of Professional Conduct in Relation to Taxation (PCRT) drawn up by the accountancy profession.

Full story: http://www.step.org/news/uk-solicitors-are-warned-assisting-tax-avoidance-may-now-be-misconduct-or-even-illegal

Non-doms take flight over threat of tax crackdown

The Times: The super-rich are abandoning Britain as the Brexit vote and threats of a tax crackdown prompt an exodus of “non-doms”.  Up to 12,000 have left the UK over the past year and another 55,000 are considering leaving, according to research by a top-ten accountancy firm.

Full story: https://www.thetimes.co.uk/edition/news/non-doms-take-flight-over-threat-of-tax-crackdown-3r37qfmf2 

SUCCESSION PLANNING: UK citizens not discussing inheritance with their families

STEP: Almost half of UK citizens have never discussed inheritance with their families, and a quarter do not think it is a priority, according to new research from Brewin Dolphin.

Full story: http://www.step.org/news/succession-planning-uk-citizens-not-discussing-inheritance-their-families

HMRC updates worldwide disclosure facility with 90-day extension

CCH Daily: HMRC has updated its guidance on the worldwide disclosure facility (WDF) used to disclose a UK tax liability that relates wholly or in part to an offshore issue to allow an additional 90 days to make a disclosure.

Full story: https://www.cchdaily.co.uk/hmrc-updates-worldwide-disclosure-facility-90-day-extension

PwC best accountancy firm to work for, say students

ICAEW: Accountancy firms are great places to work, according to this year’s RateMyPlacement best undergraduate employer rankings. The six largest UK firms all feature in the top 100: PwC achieved the highest ranking, coming third on the list, just one place ahead of KPMG in fourth. The two Big Four firms were way ahead of their rivals. EY, Grant Thornton and Deloitte came 28th, 32nd and 34th respectively, with BDO following in 44th place.

Full story: http://economia.icaew.com/en/news/september-2017/pwc-best-accountancy-firm-to-work-for