12 | Tax

HMRC's use of Account Freezing Orders skyrockets

Account Freezing Orders (AFOs) and Account Forfeiture Orders (FOs) were introduced into Part 3B, Proceeds of Crime Act 2002 (POCA) in January 2018, as part of the wide-ranging powers provided to law enforcement agencies in the Criminal Finances Act 2017.

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Horizon scanning

Tackling tax evasion in the retail and online sectors

The National Audit Office’s recent findings reveal a series of likely priorities for HMRC as it works to address tax evasion in the small business, retail, and online sectors, where losses have surged to £5.5bn annually.

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Recent developments

Key implications of the 2024 Autumn Budget for businesses

On 30 October 2024, Rachel Reeves announced the 2024 Autumn Budget (the Budget).

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Recent developments

HMRC updates its guidance on off-payroll working

HMRC has recently updated its guidance on off-payroll working. The off-payroll working rules (IR35) ensure that a worker sometimes known as a contractor) pays broadly the same amount of Income Tax and National Insurance as an employee.

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Recent developments

HMRC updates its guidance on reporting requirements for digital platforms

In the last edition of Regulatory Radar, we wrote about The Platform Operators (Due Diligence and Reporting Requirements) Regulations 2023 (the Regulations), which require certain UK digital platforms to collect information relating to the income of sellers of goods and services on their platform and report this information to HMRC.

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Recent developments

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