Could HMRC crackdown on tax avoidance backfire?
The Disclosure of Tax Avoidance Schemes (DoTAS) regulations have historically worked reasonably well; HMRC are aware of schemes and have the opportunity to challenge and even change the law. However, following the recent provisions whereby tax on DoTAS arrangements may be payable up-front – in advance of any legal challenge – anecdotally, there seems to be a number of promoters now looking at schemes that fall outside the need to disclose under the DoTAS provisions.
If this activity continues, HMRC may have to find some way to track non-DoTAS schemes, and its success in that area remains to be seen.
Date: 26th August, 2014
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole