Next loses battle against HMRC, which claimed the retailer was avoiding tax
High street retailer Next has handed a £22.4m bill by HM Revenue & Customs (HMRC) after a court found it had avoided paying tax.
Why making failure to declare overseas income a criminal offence is “a bad law”
Robert Maas takes a look at the sort of people who seem likely to be wrongly criminalised as a result of failing to declare overseas income.
It is now a criminal offence not to declare overseas income
The government announced in April 2014 that they intend to create a new criminal offence of failing to declare overseas income. This will be a strict liability offence. It will not matter why the income was not declared. All that HMRC will need to show is that you had taxable income arising overseas and that such income has not been shown on your tax return.