Listed below is the latest news from Mazars UK.
As reported in our news item in July this year we described the progress made at the Madrid meeting of the ISO Technical Committee designing the ABMS. The second working draft of the ABMS has since been further considered by those countries and organisations actively involved. There are now 26 Participating states, 13 Observer states, 4 Internal Liaison Members and 7 External Liaison Members to the Technical Committee.
On Tuesday HMRC published a list of tax avoidance schemes whose users may be required to make a substantial upfront payment of tax. This is under the ‘accelerated payment’ regime which was announced in the 2014 budget and HMRC have previously warned that they would begin to issue notices when the 2014 Finance Act has received Royal Assent. In the associated press release HMRC advise that the list is being published to “help avoidance scheme users and their advisors to prepare for accelerated payments”.