TaxCorporate TaxTaxman ratchets up disclosure regime pressure

Taxman ratchets up disclosure regime pressure

HMRC wants power to call for information where non-compliance is suspected

The government has opened consultation on new powers that will enable
HM Revenue & Customs
to call for information where it believes there is non-compliance with the
disclosure regime.

In the
pre-Budget
report
it was revealed that the government was planning to
strengthen the disclosure regime, a system which obliges tax advisers to notify
HMRC of new avoidance schemes.

The regime has been successful, but the government believes that there are
still a minority of advisers who are not complying with the disclosure regime.

The new power will be exercised via the special commissioners, and the in a
statement the government said the consultation was ‘intended to ensure that the
proposed information power will be a proportionate and targeted response to any
non-compliance encountered’.

Dawn
Primarolo
, paymaster general, said the move was part of
government’s ‘robust approach in countering avoidance’.

‘This power will benefit the compliant majority by creating a level playing
field and is a proportionate response by government to frustrate those
determined to avoid paying their fair share,’ said Primarolo.

Further reading:

HMRC to treat Gaines-Cooper as a one-off

Brown closes six avoidance schemes

Government lands early blow to leasing avoidance
schemes

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