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