Proposed HMRC powers to force accountants to disclose client details
Apparently the Government has put forward proposed new rules that would force accountants to reveal the names and addresses of clients who take up 'schemes' to avoid paying the 50% rate of income tax that comes into effect from April next year.
HMRC is seeking a 'new specialist information power' that would allow it to require accountants to release the details of all such individuals.
The current disclosure rules require accountants to tell HMRC about schemes and, where a scheme is registered, the scheme number has to be put on the return. Apparently this does not go far enough.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author.
Date: 5th August, 2009
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