This week’s UK tax tidbits, 20 November 2017

Nov 20, 2017

Higher interest on late payments of tax and appealing self-assessment penalties feature together with some of the latest Bulletins from HMRC.

  • From 21 November 2017, the rate of interest on late paid tax will increase to 3 percent
  • The government is consulting on changes to the overseas pension scheme rules relating to the tax charges on payments from non-UK pension schemes
  • Pension schemes newsletter 92 – October 2017 and the Employer Bulletin: October 2017 are available
  • Draft guidance that will accompany the new penalty that can be applied on those who ‘enable’ tax avoidance schemes that are subsequently defeated has been published
  • HMRC has published Spotlight 40, the latest in its series highlighting tax avoidance schemes which it says don’t work
  • HMRC have published details of litigation decisions in 2016-17 where they consider tax avoidance was involved
  • Use the online service or SA370 form to appeal against Self-Assessment penalties for sending late tax returns or payments
  • The factsheet providing information about compliance checks into certain large, complex businesses and their tax affairs has been updated
  • HMRC have released an updated organisation chart
  • HMRC examples of phishing scams to get personal information has been updated