COMPANIES THAT SET UP complex tax schemes for clients could face fines if they fail to reveal the individuals taking advantage of the arrangements.
Treasury minister David Gauke will tell think tank Policy Exchange this morning that aggressive schemes "damage" the government's ability to fund public services and "provide support to those who need it".
The latest words from a government minister increases the stakes on those operating aggressive tax avoidance schemes, following rhetoric from both the prime minster David Cameron and chancellor George Osborne.
However, advisors believe that better tax legislation – and a more simple system – would deal with many of the concerns involving complex schemes. They argue that they are ethically bound to make sure their clients pay the minimum amount of tax within the confines of the law.
Visit Accountancy Age later for more details from Gauke's Policy Exchange speech.
Was this not the MP who claimed £10,248.32 expenses back from taxpayers to avoid stamp duty and fees involved in th epurcahse of his home in London?
Posted by: Guy Fawkes, 23 Jul 2012 | 11:50
A good deterrant would be to have public disclosure of all DOTAS notifiable schemes i.e. having details of the schemes, the names of the individuals, advisors behind them and amounts involved published on the HMRC website. That'll put a stop to it.
Posted by: Jon Griffey, 23 Jul 2012 | 11:51
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