Could HMRC crackdown on tax avoidance backfire?
Date: 26th August, 2014 | Author: Cathy Corns | Comments: 0
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.
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