EdgeNews l et t er I s s ue7 November2015
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Edi t or i al Asma nyofy ouwi l l k nowf r om pr ev i ousa r t i c l es , I ha v ea f a s c i na t i onwi t hT onyBl a i r .Obv i ous l y , “ T B” ( whi c hi sa l s ot he a bbr ev i a t i onf oradea dl ydi s ea s e) i snotadev i ous , t wo f a c ed, na t ur a l bor nl i a rorev enana t ur a l bor nk i l l er .T os t a t e s omet hi ngl i k et ha twoul dbeout r a geous .T Bi sj us ta wel l s pok engent l ema nwhoa c t edi nt hebes ti nt er es tof t heBr i t i s hpubl i c . I r ea donS unda yt ha tema i l sha v ebeen r el ea s eddemons t r a t i ngt hewa ronI r a qwa sa r gua bl ya r r a ngedov eray ea ri na dv a nc eoft hedos s i eronS a da m Hus s ei n’ swea ponsofma s sdes t r uc t i on. F ort hos ewhor ec a l l t hedos s i er , t heywi l l a l s or ememberi twa sbut c her edf r om apr ev i ousdoc umenti s s ueda boutadec a debef or e .
-T axr i s kupda t e - Don’ tgoknoc ki ngonmy door : c ur r entHMRCac t i vi t y -I fI wer eanoffic eri nHMRC’ s Ri s kandI nt el l i genc eSer vi c e , t hi si swha tI woul ddo Ant onL ane , Managi ngP ar t ne r
Myf a s c i na t i onnowe x t e ndst oJ e r e myCor by nor “ J C” or “ f orJ C’ ss a k e ” f ors hor t .PoorJ Cwa s t hes ubj e c tof a na t t a c kbyDa v i dCa me r on: “ DC” , whi c hi sa l s os hor tf ora ne l e c t r i cc ur r e nt owi ngi nonedi r e c t i on( I a m notr e f e r r i ngt ot heboyba nda l t houghI a ms ni gge r i ngnow) . DCa c c us e dJ Cof ha v i nga" s e c ur i t y t hr e a t e ni ng, t e r r or i s t s y mpa t hi s i ng, Br i t a i nha t i ngi de ol ogy " .Ra t he rhumor oust ha tne ws pa pe r sha v er e por t e dJ C’ sl e a de r s hi pc a mpa i gnwa s pa r t f unde dbypr oHa ma st e r r ors uppor t e rwhoha sba c k e dt her e c e ntwa v eof s t a bbi ngsof J e wsi nI s r a e l , a l l e ge dl y . Doe sa ny onee l s et hi nkt ha twes houl dha v eal i t t l emor ei nf or ma t i onont hepol i t i c i a nsf or whom wedon’ tt r us tbute mpowe rt or unourc ount r y ?Af t e ra l l , t he ywa ntal otmor ei nf or ma t i ononus … …. I wr i t et hi sada ybe f or eI pr e s e nta tt heI BCc onf e r e nc eon“ UKF AT CAa ndt heI nt e r Gov e r nme nt a l Agr e e me nt s ” .Bywa yof s umma r yf ort omor r ow’ spr e s e nt a t i on, t heGov e r nme nt wi l l s hor t l yk nowwha tt oi l e tpa pe ry ouus eunl e s sy oua r eapol i t i c i a nf orwhom wewi l l ha v e t or e l yonJ our na l i s t st odi s c ov e rwhe t he ry oua r eac ok es nor t i ng, br awe a r i ng, a ndpr os t i t ut ehunt i ngL or dore v e nwor s eonewhoha sa ni nnoc e ntS wi s sba nka c c ount .T r a ns pa r e nc ya ppe a r st obeaonewa yr e qui r e me nt . Asa l wa y swewoul dl i k et ot ha nky ouf ort a k i ngt het i met or e a dourne ws l e t t e r , wehope y ou ndi ti nt e r e s t i nga ndwe l c omea nyf e e dba c kont hec ont e nt , i nc l udi ngt opi c si f y ou woul dl i k et os e ec ov e r e di nf ut ur ene ws l e t t e r s . I f y ouwoul dl i k et odi s c us sa nyc ov e r e di n t hi sne ws l e t t e rf ur t he r , pl e a s edoc ont a c tus .
- Offs hor eT r us t sandI nt er Gov er nment al Agr eement s ( “ I GAs ” ) - Di r ec t or smor ea tr i s k - Di vi dendt axc hanges -Pr oper t yf oc us - Thes el f as s es s mentt ax r et ur ndeadl i nei sappr oac hi ng -T axc ompl i anc eda t est o r emember - EdgeNews
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Ne ws l e t t e r T axRi s kUpdat e On16Oc t obe r , HMRCa nnounc e dt ha tt a s k f or c e sbr oughti n£109 mi l l i ona ddi t i ona l t a x e si nt hel a s ts i xmont hs .£64. 9mi l l i onwa s r e c ov e r e di nt he r s tt hr e emont hsof2015, whi c hi smor et ha nt wi c e t ha tf ort hes a mepe r i odi n2014. HMRCha sl a unc he dt we nt ys e v e nne wt a s k f or c e st a r ge t i nghi ghr i s k s e c t or s .S i nc eF e br ua r y2014t hef ol l owi nga ddi t i ona l t a s k f or c e s we r el a unc he d: -Hi dde nwe a l t h; -Re s t a ur a nt s ; -T hec ons t r uc t i oni ndus t r y ; -Pr ope r t yt a xe v a s i on; a nd -We a l t hyt a xc he a t s .
I ft hedev el opmentofHMRC’ st a s k f or c esi ss omet hi ngt ha ti nt er es t s y ou, t a k eal ooka tourc a r eeroppor t uni t i esher ewher eweha v e r ol esa v a i l a bl ewhi c hwi l l gi v ey out hec ha nc et owor kwi t hc l i ent s whoha v ebeent a r get edbyHMRCt a s k f or c es . .
Don’ tgoknoc ki ngonmy door : c ur r entHMRCac t i vi t y
T a s k f or c e swe r er s tl a unc he di ns pr i ng2011a spa r tofHMRC’ sc ompl i a nc es t r a t e gyt ot a c k l et a xe v a s i ona ndf r a ud. Ov e r100t a s k f or c e s ha v ebe e nl a unc he dy i e l di ngmor et ha n£404mi l l i on. L ondona ndt heMi dl a ndsha v eha dt hema j or i t yoft a s k f or c e swi t h r e l a t i v e l yf e wi nt heS out hWe s ta ndWa l e sunt i l r e c e nt l y .T he r ei s nowapa r t i c ul a rf oc usi nt heS out hWe s ta ndWa l e sonhi dde n we a l t h, pr ope r t yt a xe v a s i ona ndhi ghne twor t hi ndi v i dua l s . Wea r e s e e i ngas i gnic a nti nc r e a s ei na c t i v i t yi nt heS out hWe s ta st het a s k f or c e spi c kupmome nt um. Noneoft het a s k f or c e sc ur r e nt l yc onc e nt r a t eonoffs hor es t r uc t ur e s , a l t houghwebe l i e v ei ti soni t swa y .Wepr e v i ous l yr e por t e da bout s pe c i a l i s ti nv e s t i ga t i onst e a msbe i ngr e or ga ni s e dt ot a k ei nt oa c c ountt hea nt i c i pa t e di nc r e a s ei noffs hor edi s c l os ur e sl e a di ngupt o 31De c e mbe r2015whe nr e gi s t r a t i onunde rt heOffs hor eDi s c l os ur e F a c i l i t y( “ ODF ” ) c e a s e s . Weha v ea r r a nge ds e v e r a l me e t i ngswi t hHMRCr e ga r di ngne got i a t i ngs e t t l e me nt swhe r et a xs c he me swe r eus e d.Ac ons i s t e ntc omme ntf r om t heI ns pe c t or si st ha ta c c e l e r a t e dpa y me ntnot i c e s ( “ APNs ” ) we r ea boutt obei s s ue d.APNsa r ege ne r a l l yi s s ue di n ba t c he sa c r os sus e r sofs c he me s .Ourv i e wi st ha tAPNswi l l be i s s ue dwi t hi nt hene x tmont hf orr e mune r a t i onpl a nni ngi nv ol v i ng r e de e ma bl es ha r e spl uss omeot he rs i mi l a rs c he me s . Anot he ra r e awea r ee x pe c t i nga c t i v i t yf ol l owi ngt hee ndoft hec ont r a c t orl oa ns e t t l e me ntoppor t uni t y( “ CL S O” ) i sc ont r a c t ora r r a nge me nt spos t5Apr i l 2011( i . e . t hos eout s i det heCL S O) .HMRCa r e a wa r et ha ta r r a nge me nt swe r epr omot e da ndut i l i s e ds i nc et ha tda t e a nde v e nt oda y( gi v e nanumbe rofCL S Odi s c l os ur e si nc l ude dpos t5 Apr i l 2011s t r uc t ur e sa l s o) .T hea r r a nge me nt sha v ea l s obe e nt he s ubj e c tofr e c e ntpr e s ss oi ti sl i k e l yt ha tHMRCwi l l bec ons i de r i ng wha tt odo. HMRCha sa l s or e c e nt l ya nnounc e dt hes uc c e s soft heL e tPr ope r t y Ca mpa i gnupunt i l t hi spoi nt , r e por t i ngov e r£50mi l l i onha sbe e n br oughti ns i nc et hec a mpa i gnsl a unc hi nS e pt e mbe r2013. Ov e r 100, 000l a ndl or dsha v ev ol unt a r i l ydi s c l os e dt a xonpr e v i ous l yunde c l a r e di nc ome . HMRCa r enowf oc us i ngonhe l pi ngt oe duc a t el a ndl or dsbyr unni ngs pe c i a l que s t i ona nda ns we rs e s s i onsonT wi t t e r whi c hc oul ds ugge s tt ha tHMRCa r ee x pe c t i ngal otmor et a xt obe di s c l os e df r om t hi sc a mpa i gn. T odi s c us sa nyoft hea bov eora nyt a xc onc e r nsy ouma yha v e , pl e a s edonothe s i t a t et oc ont a c tus .
I t ’ sapoorbuti nnov a t i v ei nt r oduc t i ont oa na r t i c l e: Ohbaby , baby …… Myt axbi l l i ski l l i ngme I mus tc onf e s s , I s t i l l c an’ tbe l i e v e Howmuc hI pay , I l os emymi nd Gi v emeas i gn T axmebabyonemor et i me …. . I nt heel oquent l yr ephr a s edwor dsofMsS pea r s( whoi snotaUK r es i dent ) y oumi ghtgett a x edmor et ha nonet i me . T hi sa ppea r st o bet heunf or t una t es i t ua t i onf orma nypeopl ewhounder t ookt a x pl a nni ng:Wer ec ent l yf oundanumberofnotBr i t neyf a nswho c onf es s edt ha tt hea dv i c egi v ent ot hem wa s“ t ox i c ” a ndt heynow f eel “ l i k eas l a v e ” f orHMRCa ndha v er ea l i s edt ha tt hegov er nment wer enot “ bor nt oma k et hem ha ppy” …. T hi sweek ’ sa r t i c l ec ons i der sHMRCa ppr oa c hf ors el ec t i on, t hei nf or ma t i ona tt hei rha ndsa ndt hea r ea sc ur r ent l ys ubj ec t edt os pec ics c r ut i ny( ont opofdi s c l os ur ec a mpa i gns , t a xa v oi da nc e s c hemesa ndoffs hor et a xev a s i on) . Wea r eha ppyt odi s c us sonanoobl i ga t i onsba s i sa nyenqui r i es y ouory ourc l i ent sf a c e: c a l l Ant onL a neon01454777831orema i l a l a ne@edget a x . c om I ti ses s ent i al t hatadvi s er sar eawar eofwhatHMRCar ec ur r ent l yupt o. Why ?Cons i dert heempl oy eebenett r us ts et t l ementoppor t uni t y ( E BT S O) , whi c hwa sba s edonHMRC’ sc ur r enti nt er pr et a t i on; whi c h t ookt hem ov eradec a det o nd.T ha toppor t uni t yha sc l os eda nd t hos ewhoma yha v et r i edt obewi t hi ni tornowonl yr ea l i s et ha t t heya r epot ent i a l l ywi t hi ni ta r ea tr i s kofadi ffer entt a xt r ea t ment , i nc r ea s edpena l t i esorev enpr os ec ut i on.Howev er , c ons i derf ur t herwher ea nE BTa r r a ngementwa sus eda ndf undsl entt oi ndi v i dua l swhor ei nv es t edt hos ef undsi nbus i nes s est ha twer enot s uc c es s f ul .T hebor r owerwa ss a dl yt hes a mec ompa nyt ha ts pons or edt heE BTa l l bei tt hr oughar edeema bl epr ef er enc es ha r ea r r a ngement . 2
Ne ws l e t t e r HMRCc ont e ndt ha taP AYEc ha r gea r i s e s .I f wel ookt hr ought he s i t ua t i on, t heonl yr e a l t a xa v oi de di si nf a c tt hec or por a t i ont a x , i f i nde e dac or por a t i ont a xde duc t i onwe r es ought .I si tf a i rt he nf or HMRCt oa s s e s sa mount st oP AYE ?I f wef ur t he rc ons i de rt her e me di a l a c t i onof t heGAARpa ne l t ol ookt hr ougha si f t het r a ns a c t i onsha dnotoc c ur r e dt he r e byr e mov i ngt het a xa dv a nt a ge , t ha t t r e a t me nts e e mst obei nc ont r a s tt ot het r e a t me nta dopt e d whe nt hes hoe ’ sont heot he rf oot . T hi si st hef a i rt a xs y s t e ma dopt e dunde rt oda y ’ spol i c yof c r a c k i ngdownont a xa v oi da nc e , r e ga r dl e s sof t hef a c tt ha tHMRC f a i l e dt oc ount e rt hea v oi da nc ewhi l s tf ul l ya wa r eof i tf orov e ra de c a de . Gi mmeMor e Ac c or di ngt oHMRC’ ss t a t i s t i c s , t hec ur r e ntt a xga pof a r ound £34bni sma i nl ya t t r i but e dt o: -S ma l l a ndme di um s i z ee nt e r pr i s e s44%; a nd -I ndi v i dua l s12%. HMRCha v ebe e ngi v e naf a i ra mountof poc k e tmone yt ode pl oy i nt a r ge t i ngv a r i ousa r e a s : -£800m: nonc ompl i a nc ea ndt a xe v a s i on; -£300m: s ma l l a ndme di ums i z e de nt e r pr i s e sa ndhi ghne t wor t hi ndi v i dua l s ; -£36m: T r us t s , pe ns i ons c he me sa ndnondomi c i l e d i ndi v i dua l s . T ha nk f ul l yGov e r nme ntde pa r t me nt sa r ea l wa y si ne ffic i e ntorunde r ma nne d, ora r et he y ?T hepr opor t i onof HMRCpe r s onne l nowi nv ol v e di ne nf or c e me nta ndc ompl i a nc eha sgr ownc ons i de r a bl yt oov e r26, 000; a ni nc r e a s eof a r ound2, 000ov e rt hepa s t f oury e a r s . Showdown Wet houghtHMRC’ sConne c tc omput e rs y s t e m wa si mpr e s s i v ei n t hema nne rt ha ti tl i nk si nf or ma t i onf r om ma nygov e r nme nt s our c e s , t hi r dpa r t yi nf or ma t i ona nds oc i a l me di a .Weha v ea nt i c i pa t e dt hepot e nt i a l de v e l opme nta ndnowi ti she r e .E nt e rs t a ge l e f t , t heE nt e r pr i s eDa t aHub. Appa r e nt l yt hene whubwi l l ha v e t hec a pa c i t yt ohol dt e nt i me smor eda t a . S omemi ghtt hi nkt hi si s f ut ur epr oo ng.T hec y ni c a l woul dc onc l udet ha tt hi r dpa r t ynot i c e sa ndf or e i gne x c ha ngei nf or ma t i onwi l l begr e a t e r . WhenI F oundY ou Da t aga t he r i ngpowe r sa r eha v i nga not he ri nj e c t i onof s t e r oi ds a ndt hei nt e nt i oni st ol e gi s l a t et oe x t e nda c c e s st oda t ahe l dby bus i ne s si nt e r me di a r i e sa nde l e c t r oni cpa y me ntpr ov i de r s . . Br oa dl y , t hi spe r mi t st hei de nt ic a t i onof a l l t hos ehi dde nt r a ns a c t i onsoni nt e r ne tma r k e tpl a c e s !F ore x a mpl e , bus i ne s si nt e r me di a r i e si nc l ude st hos epr oc e s s i ngor de r sf orhot e l a c c ommoda t i on, hol i da yl e t s , f oodor de r s , t i c k e ts a l e sa nds oona nds of or t h…
E l e c t r oni cpa y me ntpr ov i de r sf a c i l i t a t epa y me nt st hr oughdi gi t a l wa l l e t s .Ac c e s s i ngt hi si nf or ma t i onpe r mi t ss py i ngons hoppi ng orons e l l i ng.
T hei nf or ma t i ona c c es s eds houl da l l ows uppr es s edt ur nov era nd i na c c ur a t eVATr et ur nst obei dent ieda ndqua nt iedf r om t he ot hers i de . Per f ec tLover Woul dn’ ti tbegr ea ti fea c hpa r t nerk newe x a c t l ywha tt heot her pa r t nerwa sdoi ng( butma y benott hi nk i ng) ?Wel l t ha twoul d a ppea rt obet her el a t i ons hi pwewi l l a l l pot ent i a l l yha v ewi t ha nI ns pec t orof T a x esv er ys oon. T heda t aHMRCr ec ei v esl ea dst ot a r get edenqui r i es .Whent hos eenqui r i esa r ema de , t heenqui r i ngoffic er i sl i k el yt ok nowwha t gur esi nt hea c c ount sort a xr et ur na r e wr onga ndev enwha tt heys houl dbe .T hepowerofi nf or ma t i oni s s t i l l bei ngdemons t r a t edi nr es pec tofl etpr oper t y , wher eHMRC s er v ednot i c esonma na gementa genc i esa ndl i nk edr ec or dst o l a ndr egi s t r y , el ec t or a l r ol l a ndt a x pa y er s . Howev er , a nI ns pec t ori npos s es s i onofs a l esi nf or ma t i ondec l a r ed t ot hem underat hi r dpa r t ynot i c ewi t houtt hek nowl edgeoft he t a x pa y erwi l l l i k el ys t i pul a t ea c c ounthol der sna me , a ddr es s , da t e , t r a ns a c t i ondet a i l sa nd na nc i a l a mount . Connec tc a na ut oma t i c a l l yl i nkt hea c c ounthol der sna mea nda ddr es st ot a xr ec or dsa nd t hei ra c c ount sa ndt a xr et ur ns , t husa ns wer i ngt heques t i on; dot he t woa ddup? Weha v ea l s opoi nt edouti ns omer ec ents emi na r st ha ti ns ur er s c a na l s obes er v edwi t hanot i c et opr ov i dei nf or ma t i on.E nt er s t a ger i ght , t hea bi l i t yf ort hes a l esofa nypr oduc tunder wr i t t ent o bepr ov i dedt oHMRCper mi t t i ngt hem t owor kouts a l esf or s ec ondha ndc a r s( c ur r ent l yamot ori ndus t r yt a s k f or c eha sbeen wor k i ngi t sma gi c ) , s ol a rpa nel s , el ec t r i c a l goods , a swel l a sev en c hec k i ngwhet herempl oy er sa r edec l a r i ngbenet si nk i nd( medi c a l i ns ur a nc eet c . ) . Womani z er I fi t ’ snotba denoughHMRCha v i ngpot ent i a l l yenoughi nf or ma t i ont opr epa r ea c c ount sa ndt a xr et ur nswi t houtt heneedf ora n a gent , t heyt hent r yf ort hene x tba s e: t a s k f or c es . T a s k f or c esf oc usons pec icbus i nes ss ec t or swher eHMRCs us pec t s hi ghr i s kt a xev a s i oni st a k i ngpl a c e .T het a s k f or c ea ppea r st obe l a unc hedi noner egi ona nda f t ers omes uc c es s , l a unc hedi not her r egi ons . T het a s k f or c esa r eagoode x a mpl eofhowHMRCdepa r t ment s nowwor kt oget hergi v ent heya r eus ua l l yma deupofdi r ec tt a x a ndVATs pec i a l i s t , benet sa nda genc y , c r i mi na l i nv es t i ga t or s , l i t i ga t or s , pol i c eoffic er sa ndbor dera genc y .T hi smea nst ha tt hedepa r t ment sa r ewor k i ngt a xi r r egul a r i t i esa swel l a si mmi gr a t i ona nd benet sf r a ud… T a s k f or c esa r ei nt el l i genc el ed: Ri s ka ndI nt el l i genc eS er v i c e , whi c h i sr es pons i bl ef orConnec ti dent i f y i ngwhi c hs ec t ora ndwhoi nt he s ec t ori st obet a c k l edbyt het a s k f or c et ea m.I ni t i a l l y , as ma l l numberofc a s esa r eunder t a k ens ot ha tHMRCma yr enea ndi mpr ov et hec a s epr ol ei nr ea di nes sf oraf ul l t a s k f or c edepl oy ment . Y ouc a ns eet hec ur r entt a s k f or c esonourwebs i t eher e .
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Ne ws l e t t e r I fI wer eanoffic eri nHMRC’ sRi s k andI nt el l i genc eSer vi c e, t hi si s whatI woul ddo: T hi sa r t i c l ec ons i de r sr e por t i ngr e qui r e me nt sof t heoffs hor ena nc i a l s e r v i c e si ndus t r yt oHMRC.F AT CAi st heUS ’ F or e i gnAc c ount T a xCompl i a nc eAc t( he nc e“ F AT CA” ) . Al ongwi t ht ha tba d boyi st he“ I GA” : I nt e r gov e r nme nt a l a gr e e me nt s .T ha t ’ sr i ght ! T he gov e r nme nt si nt e ndt os pe a ka bouta nds ha r ei nf or ma t i onr e l a t i ngt ot a x . I nS e pt e mbe r2012, t heUKa ndt heUSe nt e r e di nt oa nI GA, whi c h me a nst ha tUK na nc i a l i ns t i t ut i onswi l l bea bl et ome e tt he i r F AT CAobl i ga t i onswi t houtha v i ngt oe nt e ri nt oa na gr e e me nt wi t ht heI RS , byr e por t i ngi nf or ma t i ont oHMRCwhowi l l s uppl yi t t ot heUS . T heUKha ss oughts i mi l a re x c ha nge swi t ht heCr ownDe pe nde nc i e sa ndBr i t i s hov e r s e a st e r r i t or i e s . Gui da nc ef ort heUKI GAsi nv ol v i ngJ e r s e y , Gue r ns e ya ndt heI s l eof Ma nwa spubl i s he di n 2014.T heUKa gr e e me nt sr e qui r e na nc i a l i nt e r me di a r i e st opr ov i dei nf or ma t i ononUKr e s i de nt st oHMRC. A na nc i a l i nt e r me di a r yi nc l ude st hos e : -Ac c e pt i ngde pos i t si nt heor di na r yc our s eof aba nk i ngor s i mi l a rbus i ne s s ; -Hol di ng na nc i a l a s s e t sf ort hea c c ountof ot he r sa sa s ubs t a nt i a l por t i onof i t sbus i ne s s ; -E nga gi ngpr i ma r i l yi nt hebus i ne s sof t r a di ngi n na nc i a l i ns t r ume nt s , ma na gi ngpor t f ol i osorot he r wi s ema na gi ng f undsormone y ; or -Conduc t i ngc e r t a i nbus i ne s sa sa ni ns ur a nc ec ompa ny . T heUKl a unc he di t s“ UKF AT CA” i nt heBudge t2013a ndi nc l ude d: -T hepr ov i s i onof a ut oma t i ce x c ha ngeof i nf or ma t i ona ndUK r e s i de nt swi t ha c c ount si nt heCr ownDe pe nde nc i e s ; -Ana l t e r na t i v er e por t i nga r r a nge me ntf orUKr e s i de ntnon domi c i l e di ndi v i dua l s ; a nd -At a xdi s c l os ur ef a c i l i t y( nos hoc kt he r e ! ) . Howe v e r , ma y benowUKF AT CAs houl dbec ons i de r e di nl i newi t h s ubs e que ntl e gi s l a t i oni nt r oduc e d( orbe i ngi nt r oduc e d) by HMRC. I npa r t i c ul a r , HMRCpubl i s he df ourc ons ul t a t i onst hi sy e a r : -Ane wc r i mi na l offe nc ef orc or por a t i onst ha tf a i l t ot a k e a de qua t es t e pst opr e v e ntt hef a c i l i t a t i onof t a xe v a s i onby t he i ra ge nt s ; -T oughe r na nc i a l pe na l t i e sf oroffs hor ee v a de r s , i nc l udi ng t hepos s i bi l i t yof ape na l t yba s e dont hev a l ueof t hea s s e ton whi c ht a xwa se v a de da swe l l a swi de rpubl i cna mi ngof offs hor ee v a de r s ; -Ane wpe na l t yr e gi mef ort hos ewhoe na bl et a xe v a s i on, ba s e dont het a xt he yha v ehe l pe dt a x pa y e r st oe v a dea nd na mi ngof e na bl e r s ; a nd -Ane ws i mpl e rc r i mi na l offe nc et oma k epr os e c ut i onof offs hor ee v a de r se a s i e r .
I ti sl i k el yt ha tanumberofpeopl ewi t hoffs hor es t r uc t ur esa r e r el y i ngont hes a f egua r dt ha ts houl dHMRCc ha l l enget hei rt a x pos i t i on, t heyc a nr el yonha v i ngs oughta ppr opr i a t ea dv i c ea nd wi l l ha v eadef enc eofr ea s ona bl ec a r e .HMRCs t a t e: “ Apr ude nt t ax pay e r i se x pe c t e dt os e e kadv i c ei f t he r ei sanydoubt about t het axt r e at me nt of anyac t i v i t y . S i mi l ar l y , anyt ax pay e r who hadar e as onabl ebe l i e f t hat hedi dnot ne e dt odos ome t hi ng( or had al r e adydonei t ) mi ght bec ons i de r e dt ohav ear e as onabl ee x c us ef or af ai l ur e . T he r e f or e , t heGov e r nme nt be l i e v e sde f e nc e sof r e as onabl e e x c us eandr e as onabl ec ar epr ov i des uffic i e nt s af e guar dsi nt he ms e l v e s . HMRCwi l l c ont i nuet oc hal l e ngewhat i t s e e sasi nappr opr i at e c l ai mst or e as onabl ec ar eor e x c us e , whe nt hef ac t sasi t s e e st he mdo not s uppor t t hos ec l ai ms , asi t doe se l s e whe r ei nt het axs y s t e m. ” T hei nf or ma t i onf r om t heCr ownDependenc i es owsf r om 2016 i . e . a f t ert hec l os ur eoft heoffs hor edi s c l os ur ef a c i l i t yon31 Dec ember2015butnott hel a s tc ha nc edi s c l os ur ef a c i l i t y , whi c hi s l es sf a v our a bl e .S omema yf eel t ha tHMRCwon’ tbea bl et oha ndl e t hei nf or ma t i onr ec ei v eda l t houghoneha st or emembert he unpr ec edent ede x pens eoft hea wa r dwi nni ngs of t wa r e , Connec t , a tHMRC’ sdi s pos a l . Connec ti sl ook eda f t erbyHMRC’ sRi s ka nd I nt el l i genc eS er v i c e( “ RI S ” ) . RI Si sr es pons i bl ef or : -Col l a t i ngi nf or ma t i on; -I dent i f y i ngt hos eoper a t i ngi nt hehi ddenec onomy ; -Rec ei v i nga nde x c ha ngi ngi nf or ma t i onwi t hot her Gov er nmentDepa r t ment s ; a nd -Res ea r c hi nga ndi dent i f y i ngc a mpa i gna ndt a s k f or c et a r get s . I ta ppea r st ha tRI Swi l l ber es pons i bl ef orl ook i nga f t ert hi snew i nf or ma t i ona ndwi l l bea bl et oa na l y s ei ta ga i ns ta r gua bl yt he l a r ges tda t a ba s eonUKi ndi v i dua l sa ndbus i nes s es .T hepot ent i a l a bi l i t yt odet ec tt a xa v oi da nc eorev a s i ononc ei npos s es s i onof t hi si nf or ma t i oni sphenomena l , f ore x a mpl e: -T her ei st hea bi l i t yt oc ompa r epr ol es ; -Ma t c hi nf or ma t i onf r om i nt r agov er nments our c es ; -Ma t c hi nf or ma t i onf r om t hi r dpa r t i es( t hes c a l eoft he pot ent i a l a bi l i t ybec omesc l ea r erwhenc ons i der i ngt he i nf or ma t i onpower sc ont a i nedi nS c hedul e23F i na nc eAc t 2011) .
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Ne ws l e t t e r I f I we r eaHMRCoffic e ri nRI S , t hi si swha tI woul ddo: 1.Ma t c ht hei de nt i t yof ana me dpe r s onf r om t heCr ownDe pe nde nc i e st ot he i rt a xpr ol e ; 2.S or tt ha tgr oupof pe r s onsby : a .Hi ghne twor t hpe r s ons ; a nd b.Bus i ne s sowne r s . 3.I de nt i f ywi t hi nt hos egr oups : a .T hos ewhoha v ehi s t or i c a l l yde c l a r e da ndnotde c l a r e d ov e r s e a si nc omea ndga i ns ; b.Conne c t i onsbe t we e nt r us t s / f ounda t i ons( pr ov i de dby na nc i a l i nt e r me di a r i e s ) a ndi ns ur a nc epol i c i e s( pr ov i de d byi ns ur a nc ec ompa ni e s ) ; c .Conne c t e dpe r s onsorc ompa ni e st ha tha v edi s pos e dof a s s e t s ; d.Conne c t e dr e c e nt l yde c e a s e dpe r s ons ; e .Pe ns i ont r a ns f e ri nf or ma t i onr e l a t e dt oc onne c t e dpe r s ons . 4.Compa r ei nf or ma t i ona v a i l a bl ea tmy nge r t i psi nc l udi ng: a .I mpor ta nde x por t s ; b.L a ndr e gi s t r y ; c .Counc i l t a xa nde l e c t or a l r ol e ; a nd d.Bor de ra ge nc y . 5.I mi ghta l s ous es c he dul e23F i na nc eAc t2011t oobt a i ni nf or ma t i onf r om ba nk s ,na nc i a l i ns t i t ut i ons , i ns ur a nc ec ompa ni e s , br ok e r s , a uc t i one e r sa nde s t a t ea ge nt st ona meaf e w. 6.Compa r et hepr ol e sof c onne c t e dpe r s onsa nde nt i t i e st o a s c e r t a i nwhe t he rs i mi l a rpe r s onsma i nt a i nas i mi l a rl i f e s t y l eor a r ee qua l l ypr ot a bl e( ornots o) orha ds i mi l a re x pe ndi t ur e . 7.Col l a t i ngi nf or ma t i ona v a i l a bl eonc onne c t e dbus i ne s swhi c h c oul di nc l udea c c ount sa ndot he rCompa ni e s ’ Hous er e c or ds ( c ha r ge s , s ha r e hol de r s , di r e c t or s ) ; t a xr e t ur ns , V ATs ubmi s s i ons , i mpor t / e x por tde c l a r a t i ons , e mpl oy e ei nf or ma t i on( P AYE ) , pr ope r t yowne r s hi porr e nt a l a r r a nge me nt s , i ns ur a nc ede t a i l s( whe t he r i nde mni t yori ns ur e dgua r a nt e e spr ov i de donpr oduc t ss ol d) e t c . 8.I f abus i ne s si si nv ol v e d, I mi ghtope na“ r out i ne ” e mpl oy e r c ompl i a nc eor V ATi ns pe c t i ont oa s s i s tt oga t he ri nf or ma t i onor ge tt ok nowt hebus i ne s s . Obv i ous l y , I woul da r r a nget hi sme e t i ngwi t hs omes ui t a bl ec ol l e a gue sf r om ot he rde pa r t me nt s . 9.I mi ghtma k ea ne nqui r yi nt ot a xr e t ur nst ha ta r ewi t hi nt he ope ny e a rf ore nqui r ya nda s ks omes ubt l eque s t i onst opr ov i de i nf or ma t i on, f ore x a mpl edi r e c t orl oa na c c ount sa r ea l wa y si nt e r e s t i ng. Howmuc hf unc oul dy ouha v ewi t ht hi sa mountof i nf or ma t i ona t y our nge r t i ps ?Re gi s t e r i ngf ort heoffs hor edi s c l os ur ef a c i l i t y c ome st oac l os eon31De c e mbe r2015.Wewi l l beha ppyt oha v e anoobl i ga t i onc ha ta boutt her i s k sf orpe r s onswi t hoffs hor e i nt e r e s torot he r wi s e , pl e a s ec a l l uson01454777831ore ma i l a l a ne @e dget a x . c om
Offs hor eT r us t sandI nt er Gover nment al Agr eement s ( “ I GAs ” ) I nf or ma t i onT ec hnol ogyi st obl a mei nmyv i ew.E v er y t hi ngi ss o muc hqui c k era ndea s i erwi t hac omput er .Bus i nes s esha v e embr a c edt ec hnol ogya ndt oda y , c hi l dr enk nowhowt ous ea t a bl eta nd ndi nf or ma t i onont hewebbef or et heyc a nr i dea bi k e .I ti snowondert ha tgov er nment sa r oundt hewor l dha v e a dopt edt ec hnol ogyt oc ount ert a xev a s i ona nda v oi da nc e . Howev er , UKt a xa dv i s er sa nd duc i a r ys er v i c epr ov i der si nl ow t a xj ur i s di c t i onsma ynotha v ebel i ev edt hei rwor l dswoul dha v e c ha ngeds omuc ha nds oqui c k l y .Per s ona l l y , I don’ tbel i ev et he c ha ngei nt heUKha sbeens l ow. I tha sbeenpr ogr es s i v es i nc e t hemer geroft heI nl a ndRev enuea ndCus t omsa ndE x c i s e . S i gnsoft hei mpendi ngc ha ngewer edr i ppedouta ndwi t hhi nds i ght l egi s l a t i ondemons t r a t edHMRC’ sdes i r et oc ount era v oi da nc e ov eradec a dea go: t hedi s c l os ur eoft a xa v oi da nc es c hemel egi s l a t i onwa si nt r oduc edi n2004.T hedes i r et odet ec ta v oi da nc e a ndev a s i oni na neffic i entma nnerha ss t eppedupagea rwi t h t hec ha ngei ni nf or ma t i onga t her i ngpower s . S c hedul e23F i na nc eAc t2011i nt r oduc edpowert oobt a i ni nf or ma t i onov ers i x t eenbr oa dc a t egor i esofper s onsf ort hepur pos e ofc hec k i ngt het a xpos i t i onofot her s .T hec a t egor i esi nc l ude: -E mpl oy er s ; -Ba nk s ; -I ns ur a nc ec ompa ni es ; -F i na nc i a l i ns t i t ut i ons ; -Br ok er s ; -Auc t i oneer s ; -E s t a t ea gent s ; a nd -Cha r i t i es . T hea bi l i t yt or eques ti nf or ma t i onf r om t hes eper s onsi na nel ec t r oni cf or ma tper mi t sHMRCt oc r os sr ef er enc ei nf or ma t i on r ec ei v eda ga i ns tt ha tofot hert a x pa y er s .T oi l l us t r a t et hepower oft hi s , i ma gi neabus i nes ss el l i nga ni mpor t edpr oduc tt ha tc a r r i esa nunder wr i t t engua r a nt ee .T heunder l y i ngi ns ur a nc ei nf or ma t i onwoul da ppea rt obea c c es s i bl ef r om t hei ns ur er , whi c h c oul dbema t c hedwi t hdec l a r eds a l es , i mpor ti nf or ma t i ona nd VATr et ur ns .Weha v ea l r ea dys eent hea bi l i t yofHMRC’ sRi s ka nd I nt el l i genc eS er v i c e( “ RI S ” ) , whoa r er es pons i bl ef ort heus eof t hea c c l a i medConnec ts of t wa r e , t oi dent i f ygr oupsoft a x pa y er s a ndl a unc hs ui t a bl et a s k f or c esordi s c l os ur ec a mpa i gna ndc ol l ec ts i gnic a ntr ev enue . Gi v ent ha toffs hor et a xpl a nni ngi sof t ena s s oc i a t edwi t ht he pr ot a bl eort hewea l t hy , i ts houl dbenos ur pr i s et ha tGov er nment sdes i r emor ei nf or ma t i on.Wepr i ma r i l yha v et heUni t ed S t a t est ot ha nkf ort hei mpendi nguni v er s a l depl oy mentofi nf or ma t i onbet weengov er nment sa ndwha ti snowr ef er r edt oa s F AT CA.
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Ne ws l e t t e r Over vi ewofF ATCA F AT CAs t a ndsf or T heF or e i gnAc c ount T a xCompl i a nc eAc t .I ti sa USl a wwhi c hi nt r oduc e sme a s ur e st opr e v e ntt a xe v a s i onbyUS c i t i z e nst hr ought heus eof offs hor e na nc i a l i ns t i t ut i ons( “ F I ” ) . T hel a wr e qui r e sa nF I t opr ov i dei nf or ma t i ont ot heI RSona c c ount she l dbyUSc i t i z e ns .S houl dt heF I c hoos enott opr ov i de t her e que s t e di nf or ma t i on, t he ywi l l s uffe ra30%wi t hhol di ng t a xona l l pa y me nt sof USs our c ei nc ome . Fi nanc i al I ns t i t ut i on( “ FI ” ) Asonewoul de x pe c t , t hedeni t i onof a nF I i sbr oa da nde nc ompa s s e st hef ol l owi ng: -De pos i t or yi ns t i t ut i on; -Cus t odi a l i ns t i t ut i on; -I nv e s t me nte nt i t y ; a nd -S pe c ie di ns ur a nc ec ompa ni e s . T hedeni t i ont he r e f or ei nc l ude sba nk s , i nv e s t me nthous e s , i nv e s t me ntbr ok e r s , he dgef unds , pr i v a t ee qui t yf unds , i ns ur a nc e c ompa ni e sa nd duc i a r ys e r v i c epr ov i de r s : t hos ea dmi ni s t e r i ng t r us t s , f ounda t i onsa ndc ompa ni e s . I nt er gover nment al Agr eement s( “ I GAs ” ) F AT CAwoul dbepr e t t yr e dunda nti ne s t a bl i s hi ngt hos ewho ha v ee v a de dt a xi f t hei nf or ma t i onwa snotpr ov i de dore nf or c e me ntwa sdi ffic ul t .T hewi t hhol di ngt a xi sas i gnic a nte nc our a ge me ntt opr ov i dei nf or ma t i ongi v e ni ti se x c e pt i ona l l ydi ffic ul t t oa v oi dUSs our c ei nc ome .Howe v e r , I GAswi l l a s s i s tgr e a t l yt o ov e r c omee nf or c e me nti s s ue swi t hl oc a l t a xa ut hor i t i e sa gr e e i ng t oa c ta st hei nt e r me di a r yf ort hepr ov i s i onof i nf or ma t i on.T he r e a s onf ort heI GAi st opr e v e ntt hebr e a c hi ngof da t apr ot e c t i on a ndc on de nt i a l i t yl a ws . HMRCwi l l f or wa r di nf or ma t i onr e qui r e df r om UKF I sunde r F AT CAt ot heI RS .I t ’ snota boutj us tt heUKt hough, c ount e r i ng t a xe v a s i oni sagl oba l l ydr i v e ni ni t i a t i v ewi t hov e rs i x t yc ount r i e s e nt e r i ngi nt omul t i l a t e r a l c ompe t e nta ut hor i t ya gr e e me nt st o a ut oma t i c a l l ye x c ha ngei nf or ma t i on.T heCr ownDe pe nde nc i e s a ndt heOv e r s e a sT e r r i t or i e sha v ee nt e r e di nt os i mi l a ra gr e e me nt swi t ht heUS .T he yha v ea l s oe nt e r e di nt oa gr e e me nt s wi t ht heUK. Over vi ewofUKF ATCA T heCha nc e l l ori nt heBudge t2013a nnounc e dt hef ol l owi ng: -Ana gr e e me nt( I GA) f ora ut oma t i ce x c ha ngeof i nf or ma t i on a boutUKr e s i de nt swi t ha c c ount si nt heCr own De pe nde nc i e s ; -Ana l t e r na t i v er e por t i nga r r a nge me ntf orUKRe s i de ntNon Domi c i l e di ndi v i dua l s ; a nd -T heoffs hor et a xdi s c l os ur ef a c i l i t yf ort hos ewi s hi ngt o r e gul a r i s et he i rt a xa ffa i r si na dv a nc eof t hee x c ha ngeof i nf or ma t i on.
T heI GAswi t ht heCr ownDependenc i es( a ndGi br a l t a r ) a r ef ul l y r ec i pr oc a l .On31Ma r c h2014, T heI nt er na t i ona l T a xCompl i a nc e ( Cr ownDependenc i esa ndGi br a l t a r ) Regul a t i ons2014c a mei nt o f or c e . T hea gr eement swi t ht heOv er s ea sT er r i t or i esa r ev i r t ua l l yt he s a mea st ha twi t ht heCr ownDependenc i esi nc l udi ngi nf or ma t i ont obepr ov i deda ndt i mel i nes .T heI GAswi t ht heOv er s ea s T er r i t or i es( ot hert ha nGi br a l t a r ) a r ehowev ernonr ec i pr oc a l : UK F I sdonotha v et opr ov i deda t a . Repor t abl eAc c ount s ARepor t a bl ea c c ounti sa na nc i a l a c c ountma i nt a i nedbyt heF I wher e: -T hea c c ounthol deri saUKs pec iedper s on; or -I sanonUKent i t yt hec ont r ol l i ngper s onsofwhi c hi nc l ude oneormor eUKs pec iedper s ons . AUKs pec iedper s oni sbr oa dl yaUKr es i denti ndi v i dua l , pa r t ner s hi porunl i s t edc ompa ny . Cont r ol l i ngper s onsa r et hos ewho e x er c i s ec ont r ol ov era nent i t y . At r us t eewoul dobv i ous l yc ons i dert ha tt heye x er c i s ec ont r ol a soppos edt ot hes et t l ororbenec i a r i es .Howev er , f ort hes epur pos est het r us ti sr ega r deda s owi ngadebtt oas et t l ora ndbenec i a r i es , t her ebyr es ul t i ngi n t hem bei ngc ont r ol l i ngper s ons .Wewonderwhet hert hes a me woul da ppl yt oaF ounda t i onwi t hc a r ef ul l ydr a f t edr egul a t i ons . At r us ti sl i k el ymeett hedeni t i onofa nF I s i nc et heygener a l l y a r ea ni nv es t mentent i t y .T he na nc i a l a c c ount sma i nt a i nedby t heF I i st hedebtorequi t yi nt er es ti nt het r us t . Anequi t yi nt er es t wi l l behel dbyt hes et t l or , a nyma nda t or ybenec i a r ya nda ny ot herper s onse x er c i s i ngeffec t i v ec ont r ol , f ore x a mpl et r us t ees orapr ot ec t or . Adi s c r et i ona r ybenec i a r yhol dsa nequi t yi nt er es tonl yi fa ndwhenadi s t r i but i oni sa c t ua l l yma det ot ha t per s on. Repor t i ng F I sha v et opr ov i dei nf or ma t i ont ot hei rl oc a l t a xa ut hor i t i esby ei t her31Ma y2016or30J une2016dependi ngont hej ur i s di c t i on. T a xa ut hor i t i esi nt heCr ownDependenc i esha v eunt i l 30S ept ember2016t oe x c ha ngei nf or ma t i onwi t hHMRCf ort hec a l enda ry ea r s2014a nd2015. F I si nt heUKha v et opr ov i dei nf or ma t i ont oHMRCr ega r di ng Cr ownDependenc ya ndGi br a l t a rr epor t a bl ea c c ount sby31 Ma y2016. F ors ubs equentc a l enda ry ea r s , F I swi l l pr ov i dei nf or ma t i onby31 Ma yor30J unef ol l owi ngt heendoft hec a l enda ry ea ra ndt a x a ut hor i t i eswi l l e x c ha ngei nf or ma t i onby30S ept ember .
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Ne ws l e t t e r NonDomi c i l edUKRes i dent s Offs hor et r us tpl a nni ngha spr e domi na nt l ybe e nof gr e a t e rbe nett ononUKdomi c i l e sr e s i di ngi nt heUK.Ac ons ul t a t i oni s c ur r e nt l yi npr ogr e s sa st ot het a xt r e a t me ntof s uc hpe r s onsi n t hef ut ur ea l t hought hepr opos a l sa ppe a rt oa ffe c tt hos ewho a r el ongt e r m UKr e s i de nt .S i nc e6Apr i l 2008, nondomi c i l e dUK r e s i de nt sc oul dc hoos et obewi t hi nt her e mi t t a nc eba s i sof t a x bypa y i nga x e da mount . T hos ec ha r ge dt ot a xont her e mi t t a nc eba s i sc a ne l e c tf ora na l t e r na t i v er e por t i ngr e gi met o a ppl y . T heF I a ndnondomi c i l e dpe r s onmus te l e c tf ort her e gi met o a ppl y . AnF I mus tma k ea ne l e c t i ont ot he i rt a xa ut hor i t yby30 Ma yf ol l owi ngt hee ndof t he r s tr e l e v a ntt a xy e a r , c on r mi ng i ti soffe r i ngt her e gi me .T henondomi c i l e dpe r s onmus te l e c t t ot her e por t i ngF I by30Ma yf ol l owi ngt hee ndof e a c hr e l e v a nt t a xy e a r . Byt he28F e br ua r yf ol l owi ngt hee ndof at a xy e a r , t heF I mus t obt a i nwr i t t e ns i gne dc on r ma t i on, t ha tt henondomi c i l e s ’ UK t a xr e t ur ni nc l ude sc l a i msf or : -NonUKdomi c i l e ds t a t us ; a nd -T heRe mi t t a nc eba s i sc ha r ge( a ndt hec ha r geha sbe e npa i d i f r e l e v a nt ) . Con r ma t i ons houl dbes oughtt ha tt hedomi c i l es t a t usa nd c l a i mt obet a x e dont her e mi t t a nc eba s i si snoti ndi s put e . T hea l t e r na t i v er e por t i ngr e gi meha st wode a dl i ne sf orr e por t i ngt ot hel oc a l t a xa ut hor i t i e s :
Di r ec t or smor eatr i s k Ana r r a yofa mendment st oi ns ol v enc yl egi s l a t i onc a mei nt o f or c eon1Oc t ober2015.T hr eea mendment si npa r t i c ul a r , ha v e i nc r ea s edt her i s k sf a c i ngdi r ec t or sofc ompa ni eswhi c ha r e s t r uggl i ng na nc i a l l y . F i r s tt hepower sofa dmi ni s t r a t or sha v ebeene x t endedi nl i ne wi t ht hos eofl i qui da t or si nt ha tt heywi l l nowbeper mi t t edt o br i ngpr oc eedi ngsa ga i ns tdi r ec t or sf orwr ongf ul t r a di nga nd f r a udul entt r a di ng.Anor dera ga i ns tadi r ec t ori nei t herc a s e woul dent a i l per s ona l l i a bi l i t y . S ec ondl y , a ndmuc hmor ec ont r ov er s i a l l y , a dmi ni s t r a t or sa nd l i qui da t or swi l l ha v et hepowert oa s s i gns uc hc a us esofa c t i on t ot hi r dpa r t i es .Unt i l nowt hes ec l a i msc oul donl ybebr ought byi ns ol v enc yoffic ehol der si nt hei rownna me .Nowwr ongf ul t r a di ng, f r a udul entt r a di nga nda l s oc l a i msf orpr ef er enc ea nd t r a ns a c t i onsa tunder v a l uewi l l bet r ea t edt hes a mea sa ny ot hera s s etofac ompa nya ndt her ef or ec a pa bl eofs a l et oa t hi r dpa r t y .T hec onc er ni st ha tawhol enewi ndus t r ywi l l emer geofc ompa ni ess etupt opr o tf r om a ggr es s i v el ypur s ui nga s s i gnedl i t i ga t i onc l a i msa ga i ns tdi r ec t or s .
1.By30J unef ol l owi ngt heendoft her el ev a ntt a xy ea rt heF I mus tr epor tt hef ol l owi ngi nf or ma t i oni nr es pec toft heAc c ountHol der : -Na me; -Addr es s ; -Da t eofbi r t h; a nd -Na t i ona l I ns ur a nc eNumber( wher ea v a i l a bl e) . 2.By30J unei nt hef ol l owi ngy ea r , t hef ol l owi ngi nf or ma t i on mus tber epor t ed: -T hes a mei nf or ma t i ona st he r s tdea dl i ne , pl us : -Gr os spa y ment sa ndmov ement sofa s s et si nt oa ndf r om t her epor t a bl ea c c ounti nt her el ev a ntt a xy ea r ; -T hea c c ountnumber , na meoft heF I a ndi t sF AT CA i dent i f y i ngnumber . Gr os spa y ment sa ndmov ement sofa s s et si nc l udest hos eor i gi na t i ngf r om aUKs our c e( oronewhi c hc a nnotbedet er mi ned) i nt ot heUKr epor t a bl ea c c ounta ndt hos ef r om t heUKr epor t a bl ea c c ountt oa nul t i ma t eUKdes t i na t i on( oronewhi c h c a nnotbedet er mi ned) . Howmuc hf unc oul dy ouha v ewi t ht hi sa mountofi nf or ma t i on a ty our nger t i ps ?Regi s t er i ngf ort heoffs hor edi s c l os ur ef a c i l i t yc omest oac l os eon31Dec ember2015.Wewi l l beha ppyt o pr ov i deanoobl i ga t i onc ha ta boutt her i s k sf orper s onswi t h offs hor ei nt er es torot her wi s e , pl ea s ec a l l uson01454777831 orema i l a l a ne@edget a x . c om
T hi r dl y , c ha ngesa r ebei ngma det ot hedi r ec t or s ’ di s qua l ic a t i onr egi me .Mos tt r oubl i ngf ordi r ec t or si st henewpowerf or t hec our tt oma k ec ompens a t i onor der sa ga i ns tdi r ec t or s .Adi r ec t orma ybeor der edt opa yc ompens a t i ont oac r edi t oror c r edi t or swhoha v es uffer edl os sa sar es ul toft hemi s c onduc t l ea di ngt ot hedi s qua l ic a t i on. Al t er na t i v el yt her ewi l l bea n opt i onf oradi r ec t ort ogi v ea nunder t a k i ngt opa yc ompens a t i onwi t houtac our tor der . Asoneoft hei ndi c a t or sofun tc onduc t , whi c hc a nl ea dt odi s qua l ic a t i on, i sf a i l ur et opa ydebt sowedt ot heCr own, di r ec t or sma y ndt ha tt hei rc ompa ny’ sl i mi t edl i a bi l i t ys t a t uswi l l not pr ot ec tt hem f r om bei ngper s ona l l yl i a bl et oHMRC. F ort hos edi r ec t or swhoha v et a k enoutD&Oi ns ur a nc epol i c i es , i tma ybet i mel yt oc hec kt hes ma l l pr i ntt oens ur et ha tc ov eri s ma i nt a i nedi nt hef a c eoft hes edev el opment s .
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Ne ws l e t t e r Di vi dendt axc hanges : T odi s t r i but eornott o di s t r i but e Y e ta not he rt a xov e r ha ul a nnounc e dwi t hi nt heS umme r2015 Budge ti st hec ha nge st ohowdi v i de ndswi l l bet a x e d. F r om 6 Apr i l 2016, t he10%not i ona l t a xc r e di ti sbe i ngr e mov e dwi t ha £5, 000t a xf r e ea l l owa nc ea ndne wpr ogr e s s i v et a xr a t e sbe i ng i nt r oduc e d. T he s ec ha nge sha v epur por t e dl ybe e nde s i gne dt o di s c our a get a x pa y e r swhoha v ea ni nt e r e s ti nowne rma na ge d c ompa ni e sa t t e mpt i ngt or e duc et he i rt a xl i a bi l i t i e st hr ough r e mune r a t i onv i aac ombi na t i onof al ows a l a r ywi t hdi v i de nds . S pe c ul a t i ons ugge s t st ha ti nc or por a t e dpr ope r t ybus i ne s s e s , mi ddl ei nc omee nt r e pr e ne ur s , i nc l udi ngf a mi l y r unbus i ne s s e s a ndf r e e l a nc e r s / c ont r a c t or sc hoos i ngt ot r a det hr ought he i r ownl i mi t e dc ompa ny , c oul dbea mongs tt hos ewor s ta ffe c t e d. Whi l s tt a x pa y e r swi t hs ma l l i nv e s t me ntpor t f ol i osa r eunl i k e l yt o not i c emuc hc ha ngei nt he i rt a xl i a bi l i t y , t hos ewhor e c e i v e s i gnic a ntdi v i de ndsc oul dbepa y i ngs i gnic a nt l ymor et o HMRCpa r t i c ul a r l ywhe nc ons i de r i ngt ha tc or por a t i ont a xha s a l r e a dybe e npa i donc ompa nypr ot s . At r s tgl a nc et hene ws y s t e m of c omput a t i ona ndt a xr a t e son di v i de ndsl ook sc ompl i c a t e d, butac l os e ri ns pe c t i on( a ndaf e w pr a c t i c ee x a mpl e s ) r e v e a l st hi si snots o. T hebi gge s tc ha ngewi l l bet her e mov a l of t he10%not i ona l Di v i de ndT a xCr e di t( DT C) gi v e ni nr e c ogni t i onof c or por a t i on t a xa l r e a dys uffe r e dbe f or eac ompa nydi s t r i but e sr e t a i ne dpr of i t s .I ti sbe i ng‘ r e pl a c e d’ wi t haDi v i de ndT a xAl l owa nc e( DT A) of £5, 000a v a i l a bl et oe v e r y one , noma t t e rwha ty ournondi v i de ndi nc omei s . Cur r e nt l yba s i cr a t et a x pa y e r spa y10%ona nyi nc omer e c e i v e d a sdi v i de ndswhi c hi sc a nc e l l e doutbyt heDT C( e ffe c t i v e l yc r e a t i nga0%t a xr a t ef ort hos ewi t hat ot a l i nc omewi t hi nt he ba s i cr a t eba nd( £31, 785f ort he15/ 16t a xy e a r ) a ndpe r s ona l a l l owa nc e( £10, 600f ort he15/ 16t a xy e a r ) ; c ur r e nt l yat ot a l of £42, 385i gnor i nga nyr e l i e f s( f orpe ns i onorc ha r i t a bl edona t i onsf ore x a mpl e )whi c he x t e ndt heba s i ca ndhi ghe rr a t e ba nds . . T heba s i cpe r s ona l a l l owa nc ei ss e tt oi nc r e a s et o £11, 000f r om 6Apr i l 2016a ndt heba s i cr a t eba nds houl d i nc r e a s et o£32, 000f r om 6Apr i l 2016.
T hea l l oc a t i onofdi v i dendi nc omewi l l begi v eni nt hemos t benec i a l ma nner . I nAugus t , HMRCi s s uedaf a c t s heeta t t empt i ngt odemons t r a t et hepot ent i a l di ffer enc ei nt a xduet obe pa i d, af ewe x a mpl esa r es etoutbel ow: 1. NonDi v i dendI nc ome=£6, 500 Di v i dendI nc ome=£12, 000 T ot a l I nc ome=£18, 000 T ot al i nc omepl ac e st ax pay e ri nt heBas i cRat eband. £ 4 , 5 0 0of di v i de ndi nc omef al l swi t hi nP e r s onal Al l owanc e . Af ur t he r£ 5 , 0 0 0i si nc l ude dwi t hi nt heDT A, l e av i ngbas i cr at et axof 7 . 5 %t obepai don£ 2 , 5 0 0 . 2. NonDi v i dendI nc ome=£18, 000 Di v i dendI nc ome=£22, 000 T ot a l I nc ome=£40, 000 T ot al I nc omepl ac e st het ax pay e ri nt heBas i cRat e band.P e r s onal Al l owanc ei sus e dbynondi v i de nd i nc ome , £ 5 , 0 0 0of di v i de ndi nc omei si nc l ude dwi t hi n t heDT A, l e av i ngbas i cr at et axof 7 . 5 %t obepai don £ 1 7 , 0 0 0 . 3. NonDi v i dendI nc ome=£40, 000 Di v i dendI nc ome=£9, 000 T ot a l I nc ome=£49, 000 T ot al i nc omepl ac e st het ax pay e ri nt heHi ghe rRat eband. P e r s onal Al l owanc ei sus e dbynondi v i de ndi nc ome , £ 5 , 0 0 0of di v i de ndi nc omei si nc l ude dwi t hi nt heDT A l e av i nghi ghe rr at et axof 3 2 . 5 %t obepai don£ 4 , 0 0 0 . Not e:I fy our ec ei v el es st ha n£5, 000i ndi v i dendsORr ec ei v e di v i dendsf r om apens i onorI S Ay ouwi l l pa ynot a xont hos e di v i dends . F orma nyownerma na gedc ompa ni es , t her ewi l l bepot ent i a l benet st odec l a r i ngdi v i dendsbef or e6Apr i l 2016wher e pos s i bl e .Unf or t una t el yt her ei snos t a nda r dones i z e-t sa l l s ol ut i onf ort hea geol ddi v i dendv er s uss a l a r yc ons i der a t i ons .
F r om 6Apr i l 2016t he r s t£5, 000of i nc omef r om di v i de ndswi l l bec ompl e t e l yt a xf r e e, a l t houghi twi l l s t i l l c ountt owa r dst ot a l r e l e v a nti nc omef ort hepur pos eof c a l c ul a t i ngy ourba s i cor hi ghe rr a t et a xba nd.T a xr a t e sf ordi v i de ndi nc omea bov et he £5, 000t hr e s hol dwi l l i nc r e a s ea sf ol l ows : -7. 5%f orba s i cr a t et a xpa y e r s ; -32. 5%f orhi ghe rr a t et a xpa y e r s ; a nd -38. 1%f ora ddi t i ona l r a t et a xpa y e r s . 8
Ne ws l e t t e r Pr oper t y I nt hi smont h’ spr ope r t yf oc uswewi l l l ooka tf ur ni s he dhol i da y l e t s . Ne x tmont hwewi l l c ons i de r V ATi s s ue swi t hpr ope r t y . As a l wa y s , i f y ouwoul dl i k et oc omme nt , di s c us sa nypoi ntr a i s e dor s e ea na r t i c l eonapa r t i c ul a rs ubj e c tpl e a s ec ont a c tKi r s t yDa ni e l ( k da ni e l @e dget a x . c om) .
F ur ni s hedHol i dayL et s AF ur ni s he dHol i da y sL e t s( F HL ’ s ) bus i ne s sa c t i v i t yc a noffe rt he f ol l owi nga t t r a c t i v et a xbe net s : -T r e a t e da sat r a def ori nc omet a xpur pos e s ; -Nott r e a t e da sat r a def orc l a s s4NI Cpur pos e s ; -T r e a t e da sat r a def orc a pi t a l a l l owa nc e s ; -Pot e nt i a l a v a i l a bi l i t yof t hef ol l owi ngc a pi t a l ga i nst a x r e l i e f s ; -E nt r e pr e ne ur sr e l i e f ; -Rol l ov e rr e l i e f ; -Bus i ne s sa s s e tgi f tr e l i e f ; -I r r e c ov e r a bl el oa nt ot r a de rr e l i e f ; a nd -S ubs t a nt i a l s ha r e hol di ngr e l i e f ( S S E ) . -E x e mptf r om t her e s t r i c t i ononl oa ni nt e r e s tr e l i e f t obe i nt r oduc e df r om t he2017/ 18t a xy e a r . Af ur ni s he dhol i da yl e tbus i ne s sa c t i v i t y , l i k ea l l t r a de s , mus tbe ope r a t e dc omme r c i a l l ywi t hav i e wt oapr ot . T hea c c ommoda t i onmus tbes ui t a bl yf ur ni s he df ort heoc c upi e r t obea bl et ot a k eupnor ma l oc c upa t i on. -T hepr ope r t ymus tbec omme r c i a l l ya v a i l a bl et ot hepubl i c f ora tl e a s t210da y s( 140da y spr i ort o6Apr i l 2012) of t he r e l e v a ntpe r i od; -T hepr ope r t ymus tbec omme r c i a l l yl e tt ome mbe r sof t he publ i cf ora tl e a s t105da y s( 70da y spr i ort o6Apr i l 2012) of t her e l e v a ntpe r i od; a nd -T hepr ope r t ymus tnotbel e tonal ongt e r m ba s i s( 31or mor ec ont i nuousda y s ) f ormor et ha n155da y si nt he r e l e v a ntpe r i od. T he31da yr ul es houl dnotbec ons i de r e dbr ok e ni f a31da y pe r i odof oc c upa t i ona r i s e sf orc i r c ums t a nc e st ha ta r eoutof t he or di na r y ; s uc ha swhe r et heoc c upi e rbe c ome st ooi l l t omov e . T her e l e v a ntpe r i odi st het a xy e a r( 6Apr i l t o5Apr i l ) e x c e pti n t hei ni t i a l a nd na l pe r i odsof a c t i v i t y , whe ni ti st he r s torl a s t 12mont hpe r i od. Whe r eaF HLme e t sa l l of t hec ondi t i onsi noney e a rbutnoti n t hes ubs e que ntt woy e a r s , a“ pe r i odof gr a c e ” e l e c t i onc a nbe ma depr ov i de de v e r ye ffor twa sma det oc omme r c i a l l yl e tt he pr ope r t y .
T hi ss i t ua t i onc oul da r i s eduet oc a nc el l a t i onsdur i ngper i odsof e x t r emewea t herc ondi t i onsorwher eageogr a phi c a l a r eai sa f f ec t edbya nout br ea kofs a y‘ f oota ndmout h’ , l i k ewewi t nes s ed i n2001a nd2007. As epa r a t eel ec t i onmus tbema def orea c hofy ea r s2a nd3a nd c a nnotbema def ory ea r3unl es sonei sma dei ny ea r2.T he el ec t i onc a nbema debywr i t i ngt ot het a x pa y er ’ st a xoffic ei n t het a xr et ur nbyt heel ec t r oni cl i ngdea dl i nef ort her el ev a nt y ea r( i . e . 31J a nua r y2018f ort he15/ 16t a xy ea r ) . Wher eat a x pa y erha smor et ha noneF HLa nds omedonot meett hel et t i ngc ondi t i on( butdomeeta l l t heot herc r i t er i at o qua l i f y ) dur i ngar el ev a ntper i od, a na v er a gi ngel ec t i onc a nbe ma de . Pr ov i dedt hea v er a geov era l l t hepr oper t i est owhi c h t heel ec t i oni sma dei s105da y sormor e , t hena l l t hepr oper t i es a r er ega r deda squa l i f y i ng. T heel ec t i onmus tbema debyt he a nni v er s a r yoft heel ec t r oni cl i ngdea dl i nef ort her el ev a nt y ea r ; i . e . 31J a nua r y2018f ort he15/ 16t a xy ea r . T heel ec t i on c a nbema dei nwr i t i ngt ot het a x pa y er st a xoffic e , a l t houghi s us ua l l ydonet hr ought het a xr et ur n. At a xpa y erc a nma k ebot ha na v er a gi ngel ec t i ona ndaper i od ofgr a c eel ec t i onpr ov i dedt heyha v emor et ha noneF HL . T heF HLr ul esa ppl i edonanons t a t ut or yba s i st opr oper t yi n t heE ur opea nE c onomi cAr ea( “ E E A” ) f r om 22Apr i l 2009unt i l 6 Apr i l 2011, whent heybec a meembeddedi nl egi s l a t i ons oa st o c ompl ywi t hE ur opea nl a w. At a x pa y erwi t hF HL ’ si nt heE U( butout s i det heUK) c a nel ec tt o t r ea tt hes epr oper t i esa sF HL ’ sorundert hegener a l pr oper t y i nc omer ul es . T heF HLr ul eswi l l us ua l l ybemor ef a v our a bl e . Howev er , at a x pa y erma y ndoper a t i ngt henor ma l pr oper t y bus i nes sr ul esbenec i a l wher eot hernonF HLpr oper t i esa r e l os sma k i ngs i nc enor ma l pr oper t ybus i nes sl os s esc a nnotbe offs eta ga i ns ta nyot heri nc ome . Wher eat a x pa y erha sbot hUKa ndE E AF HL ’ s , a v er a gi ngel ec t i onsmus tbec ons i der eda ndma def ort heUKa ndE E Apor t f ol i o’ ss epa r a t el y ; ami x edel ec t i onc a nnotbema de .
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Ne ws l e t t e r L os s esf r om F HLbus i nes sa r er es t r i c t edi nas i mi l a rwa yt ogener a l pr oper t ybus i nes s esi nt ha tt heya r er i ngf enc eda ga i ns t pr ot sf r om t hes a mea c t i v i t y . Wher eaF HLbus i nes si si nc or por a t eda ndt het a x pa y err et a i nsa tl ea s t80%oft hes ha r esa nd t hec ompa nyc a r r i esont het r a de , a nyt er mi na l l os sr el i efi s a v a i l a bl et ot het a xpa y era ga i ns tr el ev a nti nc omef r om t he newc ompa nyc a r r y i ngont hebus i nes s . L os s esf r om F HLbus i nes s esa r enoti nc l udedi nt hec a ponunl i mi t edi nc omer el i ef pr ov i s i ons . F HL ’ sownedbyma r r i edc oupl esort hos ei nc i v i l pa r t ner s hi ps a r es pec ic a l l ye x c l udedf r om t her ul et ha ti nc omemus tbedi v i deda c c or di ngt ot hebenec i a l ent i t l ementt oequi t a bl e v a l ue . HMRC’ sv i ewa ppea r st obet ha ti tc a nbes pl i thowev ert hepa r t i esa gr ee , a l t houghc a r eneedst obet a k ent onotf a l l f oul of t hes et t l ement sl egi s l a t i onwher eent i t l ementoreffor ti nt he bus i nes si snotc ons i der edov ert a xeffic i enc y . Asagener a l r ul et hes uppl yofl a ndf orr es i dent i a l l et t i ngi s e x emptf r omVAT . Howev er , t hepr ov i s i onofhol i da ya c c ommoda t i oni ss t a nda r dr a t ed( c ur r ent l ya t20%) . T her ef or ea nowner ofF HL ’ sneedst oc ons i dert hei rpos i t i ont oVATi ft heye x c eed t heVATt hr es hol d( c ur r ent l y£82, 000) . T her ec a nbea nel i ne bet weenwhet heraF HLwoul da c t ua l l ybet r ea t eda shol i da y a c c ommoda t i onf orVATpur pos esa ndat a x pa y ers houl ds eek pr of es s i ona l a dv i c et odet er mi net hec or r ec tpos i t i on. HMRCdonotdi ffer ent i a t ebet weent r a desf orVATpur pos es , s o i fat a x pa y eri sVATr egi s t er edf ora not hert r a de , t heymus t a ppl yVATt oi nc omef r om F HL ’ st ha twoul dber ega r deda shol i da ya c c ommoda t i on.
T axc ompl i anc edat esf ort he di ar y 31Oc t ober
L a s tda yt os ubmi tpa pers el f a s s es s ment t a xr et ur nsf or14/ 15t a xy ea r ;
2November
S ubmi s s i onda t eofP46( Ca r ) f orqua r t er t o5Oc t ober ;
Thes el f as s es s mentt axr et ur n deadl i nei sf as tappr oac hi ng T hede a dl i nef or l i ngs e l f a s s e s s me ntt a xr e t ur nsi sl oomi ng. By mi dni ghton31s tJ a nua r yy ouwi l l ne e dt oha v es ubmi t t e dy our e l e c t r oni ct a xr e t ur n( pa pe rs ubmi s s i onsdue31s tOc t obe r ) , t oge t he rwi t hpa y me ntf ora nyt a xy ouowef ort het a xy e a r , a nd a nypa y me ntona c c ountduef ort he15/ 16t a xy e a r . Aut oma t i cpe na l t i e sbe c omeduei f y oudon’ ts ubmi ty ourr e t ur n ont i me , e v e ni f not a xi sdue . I ti si mpor t a ntt ha ty ouk nowwhe t he ry oune e dt or e gi s t e rf or s e l f a s s e s s me nt .Cont a c tusi f y oua r euns ur e . I f y oudonots ubmi ty ourt a xr e t ur na ndwi s ht oa ppe a l t hea ut oma t i cpe na l t y , r e me mbe rNOTt ot r ya nyof t he s ee x c us e swhi c h ha v ea l r e a dyf a i l e dwi t hHMRC: -Mype tgol ds hdi e d( s e l f e mpl oy e dbui l de r ) -I ha dar uni nwi t hac ow( Mi dl a ndsf a r me r ) -Af t e rs e e i ngav ol c a ni ce r upt i onont hene ws , I c oul dn’ t c onc e nt r a t eona ny t hi nge l s e( L ondonwoma n) -Mywi f ewon’ tgi v ememyma i l ( s e l f e mpl oy e dt r a de r ) -Myhus ba ndt ol dmet hede a dl i newa s31Ma r c h, a ndI be l i e v e dhi m( L e i c e s t e rha i r dr e s s e r ) -I ’ v ebe e nf a rt oobus yt our i ngt hec ount r ywi t hmyonema n pl a y( Cov e nt r ywr i t e r ) -Myba dba c kme a nsI c a n’ tgoups t a i r s . T ha t ’ swhe r emyt a x r e t ur ni s( awor k i ngt a x i dr i v e r ) -I ’ v ebe e nc r ui s i ngr oundt hewor l di nmyy a c ht , a ndonl y pi c k i nguppos twhe nI ’ m ondr yl a nd( S out hE a s tma n) -Ourbus i ne s sdoe s n’ tr e a l l ydoa ny t hi ng ( Ke nt na nc i a l s e r v i c e sr m) -I ’ v ebe e nt oobus ys ubmi t t i ngmyc l i e nt s ’ t a xr e t ur ns( L ondon a c c ount a nt ) I f y oune e dhe l ps ubmi t t i ngy ourt a xr e t ur n, pl e a s ec ont a c tus .
19/ 22November Dueda t ef orOc t oberpa ya sy ouea r n ( “ P AYE ” ) pa y ment . 31J anuar y
E l ec t r oni cs el fa s s es s mentt a xr et ur n dea dl i ne
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Ne ws l e t t e r Edgenews
Cat edanc esherwayt ot henumber1s pot
Wel c omet oourt eam: Hol l y Weha v er e c e nt l yr e c r ui t e dane wme mbe rt oourt e a m; Hol l y Cul v e r hous e . Hol l yha sj oi ne dourt e a ma sa na dmi ni s t r a t i v e a s s i s t a nta ndwi l l bet hene w r s tpoi ntof c ont a c ti nouroffic e . S hewi l l bei nc ha r geofl i nga ndt het oughj obof ma na gi ng di a r i e sa ndor ga ni s i ngAnt ona ndJ e r ome . Hol l yha saBT E Ci n Bus i ne s sS t udi e sa ndc ome sf r om ac us t ome rs e r v i c eba c k gr ound. Goodl uc kk e e pi ngt heguy si nor de ra ndwe l c omet o ourt e a m Hol l y ! Hol l yi st a k i ngov e rCa t e ’ sr ol ea sCa t ei se mba r k i ngonane w c a r e e rpa t hwi t hi nE dget obe c omeaT a xMa na ge r . Ca t eha s de mons t r a t e de ffic i e nc ya nda ne y ef orde t a i l whe na s s i s t i ng wi t hc l i e ntwor ka ndha snowc hos e nt os t udyf orhe rATTov e r t hene x tf e wy e a r s–goodl uc kCa t e , y ouc a ndoi t !
Ca t er ec ent l yc ompet edi nt heCer ocS out hWa l esc ha mpi ons hi pi nanumberofc a t egor i es ,ni s hi ngi nr s tpl a c ei nt he ‘ Pr oAm I nt er medi a t e ’ c a t egor y . Ca t ea l s oc ompet edi na nd r ea c hedt he na l i nt he‘ I nt er medi a t e ’ a nd‘ L uc k yDi p’ c a t egor i es a swel l a sget t i ngt ot hes emi -na l i n‘ T opCa t s ’ . Ca t ea ndher pa r t nera l s owona not hers epa r a t ei ndi v i dua l da nc ec ompet i t i onont he24t hOc t ober-wel l doneCa t e! Ca t eda nc esCer ocweek l ya ndr egul a r l yc ompet es . Cer oci sa n a bbr ev i a t i onoft heF r enc hphr a s ec ' es tRoc ka ndi sapa r t ner da nc i ngc l ubwhi c hi ss ui t a bl ef ora l l da nc i nga bi l i t i esf r om begi nnert opr o. I ti st hebi gges tda nc ec l ubi nt hewor l dwi t h hundr edsofc l a s s esa c r os st hegl obe .
T axRi s k/R&DSemi narwi t hT axWi s e Ont he3r dDe c e mbe r2015, E dgeT a xL L Pwi l l ber unni ngaj oi nt s e mi na ra l ongs i deT a x Wi s eBus i ne s sS e r v i c e s , f r e eof c ha r gea t t heHi l t on, Br a dl e yS t ok ei nBr i s t ol . E dgeT a xL L Pwi l l bee x pl a i ni nghowbus i ne s s e ss houl dma na get a xr i s k sa ndHMRCe nqui r i e swhi l eT a x Wi s ewi l l bepr e s e nt i ngonpe ns i onr e f or ms , a ut o e nr ol me nta nde mpl oy me ntl a wupda t e s . F orf ul l i nf or ma t i on c l i c khe r e . T obooky ourpl a c ec ont a c tKi r s t yDa ni e l ; k da n i e l @e dget a x . c om.
Ant onpas s esKr avMagagr adi ng Att hebe gi nni ngof Oc t obe r , Ant onpa s s e dhi se x t r e me l yt ough Kr a vMa gagr a di ng. F r om wha twe ’ v ehe a r d( a nds e e n) i t i nv ol v e dal otof s t r e ngt h, de t e r mi na t i on, s k i l l a ndAL OTof br ui s e s ! We l l doneAnt on! Kr a vMa gai st r a ns l a t e df r om He br e wt o“ c ont a c tc omba t ” a ndi s as e l f de f e ns es y s t e mi nv ol v i ngac ombi na t i onof t e c hni que s f r om box i ng, wr e s t l i ng, j udo, a i k i doa ndr e a l i s t i c ght i ngt e c hni que s . Ant onha sbe e npr a c t i s i ngKr a vMa gaf orov e ray e a r now, wee x pe c thi mt of e a t ur ei nt hene x tJ a c k i eCha nmov i ei n af e wy e a r st i me !
Cat eandpar t ne rdanc i ngi nc ompe t i t i on
Wear es t i l l l ooki ngf ormor eamaz i ngpeopl et o j oi nourt eam! L ook i ngf oranewc a r eeroppor t uni t y ?Wea r er ec r ui t i ngf ora numberofr ol esa tt hemomenti nc l udi ngat a xma na gera nda n a c c ount a nt . F ormor ei nf or ma t i ona boutt her ol espl ea s ev i s i t ourc a r eer spa georc ont a c tusf orf ur t heri nf or ma t i on. I fy ou a r el ook i ngf oranewr ol et ha ti snotl i s t eda ndy ouwoul dl i k e t owor kwi t hus , pl ea s edos endusy ourCV.
Ant onat Kr avMaga
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Ne ws l e t t e r Hal l oweens pec i al : Q&A I ti st ha tt i meof y e a ra ga i nwhe nwi nt e ri sa ppr oa c hi nga ndt he bui l dupt oChr i s t ma sbe gi nsbut r s tweha v et hee x c i t e me nt of Ha l l owe e na ndBon r eni ght . T oj oi ni nwi t ht heHa l l owe e n f unweha v ea s k e dourt e a mt hef ol l owi ngque s t i ons :
Par tone: movi esandf ear s : Whati syourf avour i t es c ar ymovi e? K: I don’ tl i k ewa t c hi nghor r ormov i e ss oI woul ds a yt heni ght ma r ebe f or eChr i s t ma s ? C:None .Ha v e n’ twa t c he dHor r ors i nc eI wa s14.Whywoul d y ouputy our s e l f t hr ought ha t ! ? J :S c a r yMov i e A: Ha r r yPot t e r H: J ur a s s i cPa r k
Whoi syourf avour i t es c ar yc har ac t er / vi l l ai n? K: I don’ tl i k ehi m buthei sagoode v i l c ha r a c t e r-L or dVol de mor t ! C: DrHa nni ba l L e c t e r J : Ha nni ba l L e c t e r A: Dobby H: T hehy e na sf r om t hel i onk i ng
Whats c ar ymovi ewoul dyoul eas tl i ket obeavi c t i m i n? K: S a w C: S a w J : S i l e nc eof t hel a mbs / Ha nni ba l A: S c a r yMov i e H: Pa r a nor ma l a c t i v i t y
Whati syourwor s tf ear ? K: S na k e s C: Dr owni ng J : Gr owi ngup A: Cr owdsa ndpe opl et a l k i ngt oomuc h H: Be i ngi nal i f ta ndi tbr e a k sdown!
Par tt wo: s ur vi vi ngaz ombi eapoc al yps e: Whati syouradvi c et os ur vi veaz ombi eapoc al yps e? K: Geti nar oc k eta ndgot ot hemoon C: “ T a k ePet e' sc a r , dr i v eov ert oMum' s , goi n, t a k ec a r eofPhi l i p -" I ' ms os or r y , Phi l i p"-t hengr a bMum, goov ert oL i z ' spl a c e , hol eup, ha v eac upoft eaa ndwa i tf ort hi swhol et hi ngt obl ow ov er ” ( S ha unoft heDea d) J : Publ oc ki n“ S ha unoft heDea d” s t y l e A: Kr a vMa ga H: Don’ tpa ni c
Whatweaponwoul dyouus et odef endyour s el f ? K: F l a met hr ower C: Cha i ns a w J : Ner fgun A: Combi neha r v es t erort r a c t orwi t hahedgec ut t i nga r m H: S wor d
Whats pec i al bel ongi ngswoul dyout akewi t hyou? K: MydogRoc k yDa ni el C: Ca rk ey s , wa l l et , f a mi l yphot o J : Bena ndJ er r y’ spea nutbut t erc upi c ec r ea m, Ni k eAi rbubbl es f orr unni nga wa y , Ner fgun, T equi l a A: F r es hunder wea r H: Runni ngs hoes
Whati t emswoul dbei nyour“ s ur vi val ki t ” ? K: Wa t er , wetwi pes , c hoc ol a t e , ma p, c ompa s s , t r a i ner s , phone a ndapor t a bl ephonec ha r ger ,r s ta i dk i t , k ni f e , s l eepi ngba g, a nds omes or tofs t r onga l c ohol t obl uri ta l l out ! C: Pl a s t er s , wa t er , s wi s sa r myk ni f e , c ha i ns a w J : Ba c k pa c k , s l eepi ngba g, t ent , hunt i ngk ni f e , f ol dups pa de , wa t er , potnoodl es , hotc hi l l i s a uc e , gl os t i c k s , whi s t l e , t oi l etr ol l , s a ni t i z er , deodor a nt , i Phonef ort unes , c ompa s sa ndt or c h A: T hea t r ema k eupk i t , abonds ui t , c ombi neha r v es t era nds ev er a l c r a t esofAs pa l l s H: i Phone , peppers pr a y , k ni f e , s mok ebombs , c a nsoff ood, r ope , t ent , s l eepi ngba g,r s ta i dk i ta ndbowa nda r r ow. I t hi nkbet weenuswes t a ndagoodc ha nc ea ga i ns tt hez ombi es , r i ght ? !
HappyHal l oween!
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