UK: CLAMPING DOWN ON TAX AVOIDANCE PROMOTERS – RESPOONSE FROM HMRC

On 20 July, HMRC said that the UK Government takes tax avoidance very seriously and is determined to clamp down on the unscrupulous promoters who market these schemes.  It also says that the Government is consulting on draft legislation to implement the measures outlined in this document and intends to legislate for them in the next Finance Bill, and this will give taxpayers greater information about promoters and ensure that those promoters who are determined to continue to operate will face further tough action.  HMRC issued a consultation about clamping down on the promoters of tax avoidance on 23 March and this closed on 1 June.  The government received 18 written responses and met with 9 representative bodies.  Draft legislation on the proposals was published alongside this summary of responses to the consultation. Stakeholders will be provided with an opportunity to comment on the draft legislation. 

https://www.gov.uk/government/consultations/clamping-down-on-promoters-of-tax-avoidance/outcome/clamping-down-on-promoters-of-tax-avoidance-summary-of-responses

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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