Budget – Anti tax avoidance measuresThursday, March 24th, 2011
A number of measures are to be included in the 2011 and later Finance Bills to prevent the use of certain tax avoidance schemes.
However, the Government has announced that measures will also be included in the 2012 Finance Bill to deter the continued use of avoidance schemes that are believed not to deliver the tax advantages advertised, and to do so by listing them in regulations and attaching statutory consequences to their use. More information is provided in a new document Tackling Tax Avoidance.
The document also includes details of the Government’s Protocol on unscheduled announcements of tax changes. The Protocol provides a set of criteria that Ministers will observe when deciding whether to announce a change to tax law that has immediate effect instead of from the date that a future Finance Bill comes into force.