THE GOVERNMENT’S various agreements with perceived tax havens will not have any real impact on evasion and avoidance, according to Accountancy Age readers.
Of the 52 readers polled, 62% felt the measures would fail to have any discernable effect on the aggressive tax arrangements of wealthy individuals and corporations, while the remaining 38% felt the moves would impinge on such activities.
The government has struck a string of automatic information exchange deals with a string of overseas territories and crown dependencies including the Cayman Islands, the Isle of Man, Jersey and Guernsey.
On the current timetable, UK residents with assets concealed in the territories will have until September 2016 to disclose details to the taxman and pay any tax owed to the HMRC, as well as a fine between 10% and 20%. While in most cases, the deal will see evaders escape prosecution, HMRC offers no guarantees.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said