The Inland Revenue is planning to step up the imposition of penalties for the deliberate concealment of lifetime gifts liable to inheritance tax. The crackdown was revealed in a Treasury response to Public Accounts Committee comments on the operation of inheritance tax by the Capital Taxes Office. MPs said the office should 'give active consideration to penalty action whenever material understatements of gift tax liabilities have arisen through negligence or fraud'. The Treasury, in its response to a series of PAC reports, said they agreed 'the CTO should actively consider penalty action every time there have been material understatements through negligence of fraud.' CTO compliance staff have been given fresh training in the strengthened penalties regime provided in the last Finance Bill.
New light-guiding nanoscale device can control and monitor a nanoparticle trapped in a laser beam with high sensitivity
Optical traps are scientific instruments in which a focused laser beam is used to exert an attractive or repulsive force on a microscopic object to hold it in place
Scientists estimate that the exoplanet has already lost up to 35 per cent of its mass over its lifetime
The observations were made using the Atacama Array in the Chilean desert
J1043+2408 was observed for more than 10 years, and its radio light curve exhibited a periodic signal repeating in about 563 days