Legal News & Expert Insights

HMRC Revenue and Customs officers, police officers or other appropriate authority officers may seize cash exceeding one thousand pounds where there are reasonable grounds for suspecting that it constitutes recoverable property, represents the proceeds of crime or is intended for use in unlawful conduct. The cash may initially be detained for up to forty-eight hours. […]

All businesses must take active steps to prevent their services from being used to facilitate money laundering, and those operating within a regulated sector are required to implement and maintain effective anti-money laundering procedures. If a supervisory authority is satisfied that a person or business has breached the Regulations, or has been knowingly concerned in […]

In this article we discuss how HMRC can ‘pierce the corporate veil’ in certain circumstances using Personal Liability Notices which allow Directors and other senior officers of a company to be pursued in their personal capacity. Directors and other senior officers of private limited companies have, for well over a century, enjoyed a considerable level […]

As part of its drive to reduce the ‘tax gap,’ being the difference between the amount of tax HMRC collects and the amount it estimates is actually owed, HMRC operates a powerful data networking and analytical system known as HMRC Connect. The system enables HMRC to identify businesses or individuals that may not have paid […]

Open Banking is a ground breaking concept in finance and requires traditional banks to share data with licensed financial technology (‘fintech’) companies, subject to consumer consent. It seeks to remove those barriers which hinder accounts held with different building societies, banks and other providers from working seamlessly together by safely sharing account information. Whilst originating […]

Individuals and businesses must tell HMRC when they become liable to pay tax, such as income tax, capital gains tax, or corporation tax, or when their circumstances change. This includes reaching key thresholds, such as the statutory limits regulating VAT liability. KANGS has successfully assisted our client, a labour supply company, secure the withdrawal of […]