The UK should not have a general anti-avoidance rule, according to two thirds of respondents to a Tax Journal online survey. More than 300 of the 400 respondents did not agree that legal tax avoidance should be regarded as part of the ‘tax gap’.
An ‘aggressive’ tax avoidance scheme putting ‘hundreds of millions of pounds’ of tax at risk was blocked with effect from 9 March in response to a disclosure made to HMRC under the scheme disclosure regulations.
LITRG’s view on the PTSP from Robin Williamson
Richard Clarke and Jessica McLellan review recent HMRC activity, including the Managing Deliberate Defaulters scheme and the Plumbers Tax Safe Plan (PTSP)
The public will not wear the ‘overly aggressive pursuit of lower tax bills’, David Gauke told the Hundred Group of finance directors in a recent speech.
People who have used EBTs to avoid tax on employment income are being offered ‘products’ designed to shelter funds in current schemes from the effect of planned legislation to counter avoidance of income tax and NICs, according to HMRC.
Businesses should consider engaging ‘more forthrightly’ in the tax avoidance debate to address ‘some of the myths and confusion that exist’, David Gauke said today.
Deferred bonus arrangements meeting certain conditions are to be excluded from proposed measures to tackle income tax and NIC avoidance by means of ‘disguised remuneration’.
The Inheritance Tax Avoidance Schemes (Prescribed Descriptions of Arrangements) Regulations, SI 2011/170, extend the disclosure of tax avoidance schemes regime (DOTAS) to inheritance tax by describing certain IHT arrangements involving transfers of property into trust which must be notified to HM