Tag Archives: HM Revenue & Customs (HMRC)

Tax man in unfair crackdown on landlords

The tax man is cutting corners in a crackdown on landlords and unfairly pursuing those who have properly declared their tax, claims an accountant.

Judges reject home office tax claim

A new ruling by judges could change how landlords claim mileage expenses when travelling between their home and rental properties.

Property tax cheats banned as directors

Property developers who tried to dodge paying £500,000 in corporation tax by placing their firm in liquidation without settling the debt have been banned from acting as directors for four years by The Insolvency Service. Walid Wasfi Wasif Musmar, 38, and Antoni Fields , 53, of Barnet, London, ran Oberon Properties Ltd, which sold a property in May 2007 for just over £3.5 million and should have paid £500,000 tax on the profits in August 2008. Instead, both paid £3,727,845, out of Oberon – including loans totalling £640,000 – to another company they also ran as directors, but failed to pay any corporation tax. Following an investigation by the Insolvency Service, Fields gave an undertaking not to act as a company director for four years from November 16, 2010. Musmar’s four-year ban starts on December 14, 2012, following an order made by a judge at a hearing in the High Court, London. Oberon went into liquidation in December 2008 owing £535,563 corporation tax. Mark Bruce, a Chief Examiner at The Insolvency Service said: “Directors who seek an unfair advantage by not paying tax should not expect to get away with it. This conduct harms commercial confidence and the UK’s reputation […]

Pay property tax now…or else, warns HMRC

Britain’s first tax amnesty is about to kick off – and the chance marks the last-chance saloon for many landlords who have failed to declare their property profits.

Private landlords evade £550m tax

Private landlords are evading up to £550 million in tax on rents every year, according to official figures.

1,200 ‘tax cheats’ face court over £35 million claim

The tax man is plugging a £35 million tax stamp duty loophole by taking 1,200 alleged tax cheating homebuyers to court.