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The government will consult in the new year on further measures to tackle promoters of tax avoidance schemes. These proposals will build on those announced earlier this year. They will:
- disrupt the business model of offshore promoters by making it harder for such promoters to access the UK by making their onshore partners equally responsible for the anti-avoidance regime penalties that the offshore promoter generates;
- directly tackle the secrecy on which promoters rely by ensuring that taxpayers are fully informed of the reality of what is being sold to them;
- disrupt the economics of tax avoidance by ensuring that promoters face immediate financial consequences for continuing to promote tax avoidance so they cannot continue to profit from avoidance while HMRC investigates them; and
- give HMRC additional powers to act against companies that continue to promote schemes but sidestep the rules designed to restrict their activities. The proposals would see...
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