This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
Lawandtax-news.com favicon LAWANDTAX-NEWS.COM
HOME | CONTACT | RECRUITMENT | ABOUT | LEGAL | PRIVACY & COOKIES Join us on Twitter Lowtax Facebook page Join our discussion on LinkedIn Join us on Google+ Delicious Subscribe to the Tax-News RSS Feed
   LOWTAX   
   TAX-NEWS   
   
 

Contributions

Articles »

Country Home Pages

Australia
Bahamas
Barbados
Bermuda
British Virgin Islands
Canada
Cyprus
Dubai
Gibraltar
Guernsey
Hong Kong
Isle of Man
Ireland
Jersey
Labuan
Liechtenstein
Luxembourg
South Africa
UK
US

Daily Tax Quote

Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Expat Briefing: A free online publication serving international expatriates and featuring world news, forums, events, in-depth country information and reliable investment and personal taxation guides.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
Offshore Trusts Guide: OTG publishes news, features and newsletters on the use of offshore trust structures.
TreatyPro: Online tax treaty resource.
Global Incorporation Guide [GIG]: A BSI / Lowtax Network international business smart tool.
ACCA Questions Legality Of UK 'Bank Raid' Powers

by Robert Lee, Tax-News.com, London Friday, August 1, 2014

The Association of Chartered Certified Accountants (ACCA) has warned that proposals to give HM Revenue and Customs (HMRC) powers to "raid" money from taxpayers' bank accounts risk being unconstitutional.

ACCA said that the proposal is deeply concerning because HMRC would effectively be able to bypass the courts. At present, the measures HMRC uses to recover tax debts require court approval.

Were the plans to go ahead, HMRC could take a "smash and grab approach," said Chas Roy-Chowdhury, head of tax at ACCA. He recommended that "some other form of review by an officer of the court should be considered as part of the safeguards in any power to access bank accounts." Roy-Chowdhury said the power must only be used where all appeal rights have been exhausted.

"Safeguards must be incorporated and demonstrably implemented to ensure that no further examples can arise of HMRC withdrawing funds from UK taxpayers' accounts without their knowledge or consent. HMRC must only have the narrowest of opportunities to use such a power so that it is only ever used on those who continually refuse to pay and yet can afford to. The powers must not be used on those who can't pay due to financial difficulties, such as families on low incomes or the self-employed."

ACCA has said, if the powers are granted, it will seek to work with HMRC to ensure that stringent safeguards are put in place.

.

THE LOWTAX LIBRARY

One of the web's largest and most authoritative business and investment information sources. Alongside topical, daily news on worldwide tax developments, you can receive weekly newswires or access up-to-date intelligence reports on a range of legal, tax and investment subjects.

FREE TRIAL NEWS SUBSCRIPTION

Our 16 constantly updated intelligence reports cover every important aspect of 'offshore' and international tax-planning in depth, including banking secrecy, the EU's savings tax directive, offshore funds, e-commerce, offshore gaming and transfer pricing. Reports are available for immediate downloading or as subscription services with news pages.

Advertising & Marketing

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at charles@bsi-media.com and he will put you in touch with your regional rep.

News & Content Solutions

Could your corporate web-site or newsletter benefit from incorporating regularly updated news and content tailored to serve your clients' interests? We can provide a variety of maintenance-free news and content solutions that can be seamlessly integrated and dynamically delivered:

Customised, personalised 'own-brand' news services
Newsletter content and management
News Headlines Tickers

Click here to learn more or contact Charles Bell on +44 (0)1424 205 425 or at charles@bsi-media.com and he will put you in touch with your regional rep.

Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

All rights reserved. © 2017 Wolters Kluwer TAA Limited


All content on this site has been provided by BSIRN.