TaxCorporate TaxE&Y calls for delay to disclosure regime

E&Y calls for delay to disclosure regime

The Law Society's guidance advising solicitors that they do not need to disclose tax avoidance schemes to the Inland Revenue 'runs a coach and horses' through the legislation, according to Ernst & Young's head of tax, Aidan O'Carroll.

Link: Tax avoidance row escalates

‘The new regime calling for early disclosure of tax schemes is now set to fail,’ said O’Carroll. ‘The entire tax avoidance industry will now move to the lawyers…It is completely unacceptable that the application of the regime depends upon whether tax advisers are practising as part of a law firm or as part of an accounting or other firm. This is both irrational and anti-competitive.’

O’Carroll has called for a delay in the start of the regime until there is a level playing field.

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

2m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

2m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

4m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

5m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

8m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter