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.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
Freelancers and micro-businesses still need more information about the government’s plans to make tax digital
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile