VAT
7IM to scrap VAT from MPS range from February
All-in cost of 0.25% for 7IM Active portfolio
AJ Bell removes VAT from managed portfolios and preps responsible MPS launch
MPS OCF reduced by 3 basis points
Summer economic update: Chancellor announces VAT cut and discount scheme for hospitality sector
Cut to 5% for six months
Transact on the hook for £4m VAT bill
Follows HMRC ruling
VAT now comprises a fifth of HMRC's tax intake
VAT receipts up 60% in 10 years
Advisers targeted by HMRC in VAT clampdown
Financial advisers are among the small and medium size businesses being "aggressively" targeted by HMRC for VAT payments, contributing to a 10% jump in VAT taken from SMEs in the last year, according to a national accountancy group.
Warning issued over celeb-marketed store pod investment
An industry trade body is warning investors about the risks of putting money into store pod investments advertised by a former Top Gear presenter, based on what it says are inaccuracies in the scheme's marketing material.
HMRC adds ten tax fugitives to 'most wanted' list
HM Revenue & Customs (HMRC) has added a further ten alleged tax dodgers to its ‘most wanted' list, as the department faced criticism for so far apprehending only one of 20 original fugitives.
'Aggressive' taxman losing more VAT appeals
HM Revenue & Customs (HMRC) is losing 60% of appeals against its VAT decisions because it is under pressure from the Treasury to take a more aggressive approach, according to a law firm.
Discretionary fund managers escape VAT obligation for transactional fees
Her Majesty's Revenue & Customs (HMRC) has upheld the VAT exemption on discretionary fund manager transaction fees.
HMRC says VAT is chargeable on contract-based DC advice
Advisers setting up group personal pensions (GPPs) must add VAT to the charges they levy on employers, HM Revenue and Customs (HMRC) has confirmed.
London barrister jailed after gambling away tax owed
A barrister who failed to pass on his VAT to HM Revenue and Customs (HMRC) has been jailed for tax fraud.
HMRC wins £2bn pension scheme VAT case
The National Association of Pension Funds (NAPF) and Wheels Common Investment Fund (WCIF) have lost their bid to recoup £2bn in backdated VAT on investment management services for defined benefit pension schemes.
Barrister guilty of tax £600k fraud spent money on luxury homes
A barrister who failed to pay more than £600,000 in value added tax (VAT) that he instead spent on luxury homes has been convicted for tax fraud.
HMRC to publish guidance on VAT payment for DFMs
HM Revenue & Customs (HMRC) is to publish further guidance on whether discretionary fund managers should be eligible for VAT payments.
PFS VAT guidance must be revised - Intelligent Pensions
The Personal Finance Society's paper on VAT and Adviser Charging contains a "significant error" and must be "urgently revised", warns a pension expert.
This week's news... condensed
CONDENSED
Adviser wins £260k VAT case against HMRC
Her Majesty's Revenue & Customes (HMRC) is to repay an adviser £259,000 for incorrectly charging VAT on intermediary services.
Treasury minister: paying cash in hand is 'morally wrong'
Treasury minister David Gauke has said it is "morally wrong" to pay tradesmen in cash, in the hope of avoiding tax.
What if clients ask: 'do you take cash?'
CASH IN HAND
Gosling's Grouse: Why tax dodging isn't so funny in real life
GOSLING'S GROUSE
Gang jailed for £38m carbon credits VAT fraud
Three gang members have been jailed for a total of 35 years for carrying out a £38m VAT fraud through a complex chain of carbon credit trades.
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