More tax avoidance measures?
HMRC has published a consultation – Strengthening Sanctions for Tax Avoidance – containing proposals to tackle ‘serial tax avoiders’.
‘Serial tax avoiders’ are defined as those who make use of multiple tax avoidance schemes to avoid tax. HMRC is now focusing on these taxpayers.
The consultation proposes:
- Surcharges for repeated use of schemes that fail.
- Special measures for serial avoiders including additional reporting requirements and restricting access to tax reliefs.
- Publishing the names of serial avoiders.
- A GAAR-specific penalty or surcharge.
The closing date for this consultation is 12 March 2015.
Date: 3rd March, 2015
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