‘There is still a great deal of confusion over these rules,’ Mike Warburton, senior tax partner at Grant Thornton, the told Financial Times. ‘If the Revenue refuses to confirm who will be caught and who won’t, it will be impossible for people do their tax planning and for providers to sell many types of trusts.’
Warburton was referring to one of the most contentious schemes currently being addressed by the Revenue – pre-owned assets.
Research also finds that 84% of businesses believe that the government has not provided enough information about digital tax plans
A total of £16bn was lost through tax fraud last year, according to estimates released by Pinsent Masons
Additional tax a result of compliance investigations by HMRC, but overall revenue falls
Firm expands East Anglian team with appointments to the audit practice and private client tax team