Tax Planning

Her Majesty's Revenue & Customs (HMRC) has issued a warning to consumers vulnerable to "unscrupulous" firms offering to help them access their pension savings early.

The Venture Capital Trust (VCT) sector raised £402.5m in 2012/13, up 22% on the previous tax year, according to data published by the Association of Investment Companies (AIC).

Bristol and West, which is owned by the Bank of Ireland, has lost an attempt at a Tax Tribunal to avoid paying about £30m tax on a £91m gain.

The 'super-wealthy' paid 10% more tax last year as a result of HM Revenue & Customs (HMRC) high net-worth unit which netted the Exchequer an additional £220m, the Telegraph reports.

Better-off pensioners should pay tax at a similar rate to younger people on comparative incomes, according to the Fabian Society.

A spate of professional negligence claims have been lodged against the promoters of tax avoidance schemes - including advisers - following a clampdown by HM Revenue & Customs (HMRC), according to Reynolds Porter Chamberlain (RPC), the City law firm.

Advisers setting up group personal pensions (GPPs) must add VAT to the charges they levy on employers, HM Revenue and Customs (HMRC) has confirmed.

TAX PLANNING

Crocodile Dundee star Paul Hogan wants his millions back from Switzerland, but his Geneva intermediaries refuse to give him the money.

A tax barrister who designed his own tax avoidance scheme and defended it in court against HM Revenue & Customs (HMRC) has lost his attempt to avoid paying £190,000 in tax.