Ward Williams Chartered Accountants’ Post

HM Revenue & Customs (HMRC) has said it will take “decisive action” against business owners who they believe have fraudulently claimed against the Corporation Tax Research and Development tax relief scheme or the Research and Development Expenditure Credit. Read more: https://bit.ly/4g5tLuu #Forensic #ForensicAccounting

Double tax treaties are a fundamental part of the international tax landscape. As practitioners will be aware, they can sometimes produce results which at least one of the contracting states does not like. The recent decision of the UK Upper Tribunal in HM Revenue and Customs (HMRC) v Burlington Loan Management DAC (BLM) raises important issues around the proper interpretation of “anti-abuse” or “treaty shopping” clauses included in the context of a provision dealing with relief from withholding taxes (WHT) on interest payments. Read more here: https://lnkd.in/egdBTZMw #TaxLitigation #TaxLaw #DoubleTaxTreaty #HMRC

HM Revenue & Customs scored just 2.4 out of 10 for "being responsive," 2.8 for "making things easy," and 3.5 for "getting things right," according to the annual #HMRC Charter Report, which measured performance against the Charter from April 2023 to March 2024. The survey received over 1,600 responses, with complaints about service levels a recurring theme. Richard Wild, The Chartered Institute of Taxation's (CIOT) Head of Tax Technical, stated, "Businesses are prevented from operating effectively due to the inability to obtain timely registrations or responses. Taxpayers' legitimate refunds are withheld or delayed..." Talk to us about your tax issues. https://lnkd.in/eMHTYCWF #accountants #sussex #business #tax

Small and medium businesses come under particular scrutiny from HM Revenue & Customs due to higher levels of inaccurate Research & Development tax relief claims. What measures can you take to protect your business from an HMRC investigation?❌🔍 Read blog by Ben Greves here: https://bit.ly/4aJrFNk

What exactly IS a technical uncertainty? We explored the ins and outs of technical uncertainties, and how they work to form the crux of an R&D tax credit claim. Discover how to identify these uncertainties, and how you can maximise your claim in accordance with HM Revenue & Customs guidelines. https://lnkd.in/e3JYNAEf #TechnicalUncertainty #RDRelief #RandD #TaxCreditClaim

Did you know that HMRC has changed its bank details for certain tax regimes? 🏦💷  Read more: https://bit.ly/4euBktj ✅Ensure you’ve got the right details and avoid unnecessary penalties! #HMRC #TaxAdvice

📢 Steer through the intricacies of HMRC tax investigations as read our article below. From the 'CONNECT' system to overseeing tip-offs, grasp essential strategies to safeguard your business ⬇️ #HMRC #TaxInvestigation #TaxInsights #krestonreeves

The IRS is now issuing 5472 penalties to foreign-owned disregarded entities for the 2018 tax year. Be on the lookout for these notices. If there were no reportable transactions between the owner and the entity, you may be able to have the penalties waived, as these forms are generally required if such transactions occurred under IRC 6038A. If there was a reportable transaction in that tax year, you will need to file the 5472 and ask for a first time penalty abatement.

Did you know that HMRC has changed its bank details for certain tax regimes? 🏦💷  Read more: https://bit.ly/4dfu3we ✅Ensure you’ve got the right details and avoid unnecessary penalties! #HMRC #TaxAdvice

Did you know that HMRC has changed its bank details for certain tax regimes? 🏦💷  Read more: https://bit.ly/3XOc4Zv ✅Ensure you’ve got the right details and avoid unnecessary penalties! #HMRC #TaxAdvice