Big Four firms accounted for 92 of the 177 disclosures of schemes promoted by accountancy firms in the two years to 30 September 2009, according to figures released by HMRC following a ruling by the Information Commissioner.
A workshop to be hosted by the Treasury and HMRC early next month will explore issues arising from ‘informal’ discussions following the Government’s commitment to consider the merits of a general anti-avoidance rule.
Patrick Cannon on IHT avoidance
The US has and the UK is considering enacting an anti-avoidance statute. Don Korb and Aditi Banerjee provide a comparison of both countries’ anti-avoidance case law which may be useful in understanding these rules
Richard Clarke and Jessica McLellan explain why any taxpayer with current cross-border activities should be aware of the new penalty regime for offshore funds
The draft Tax Avoidance Schemes (Penalty) (Amendment) Regulations 2010 amend SI 2007/3104, which increased from £600 to £5,000 per day the maximum penalties for failure to comply with certain disclosure obligations where the tribunal has made a disclosure order, to prescribe similar increased max
MPs debated corporation tax and capital gains tax measures on 12 July.
Joseph Howard considers what constitutes 'cheating' the Revenue and how HMRC are likely to react
There is a consensus that the introduction of a GAAR must be accompanied by a clearance mechanism.
Andrew Goodall reports on the main concerns around the potential introduction of a GAAR