.png)
.png)
The rationale behind the Revenue’s plans to collect tax upfront in some instances
KEY POINTS
- Purpose of follower notices.
- Disputed tax will have to be paid up front.
- Accelerated payment will attach to arrangements reported under DOTAS.
- New counter-avoidance directorate for HMRC.
The government has made great strides in tackling tax avoidance but wants to do more by changing the economics of promoting and engaging in avoidance.
Proposals published by HMRC in January for consultation Tackling Marketed Tax Avoidance will fundamentally change the avoidance playing field. They will remove the cashflow advantage that encourages a minority of people to enter schemes that have little or no chance of working.
The “accelerated payment” plans will entail HMRC collecting tax upfront from taxpayers who have used a scheme which is the same as or similar to one that has been defeated in the...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
