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Tax avoidance
Settlement Opportunity for Participants in Tax Avoidance Schemes
Wednesday, January 9th, 2013On 3 December 2012, the Government announced additional investment in HMRC to clamp down on tax avoidance and evasion. Following this announcement, HMRC are inviting some participants in certain schemes to settle their tax liabilities by agreement, without the need for litigation. They believe that this settlement opportunity offers both the taxpayers and HMRC the [...]
Tackling Tax Avoidance and Evasion
Tuesday, December 11th, 2012On 03 December 2012, ahead of the Chancellor’s Autumn Statement on 06 December 2012, HMRC’s Website announced that the Government would introduce new rules and HMRC would receive increased investment to tackle the ‘small minority’ who do not pay the tax that they are due to pay. In HMRC’s leaflet ‘Closing in on Tax Evasion’, [...]
Tax avoidance proposals for double taxation agreements dropped
Saturday, September 17th, 2011The Government has decided not to proceed with proposals to counter continuing exploitation of the provisions of DTAs. In August 2011, HMRC published a technical note and draft regulations that set out a proposed approach to combating tax avoidance arrangements which exploit the provisions of double taxation agreements (DTAs). Comments were sought by a deadline [...]
HMRC publishes draft legislation to tackle tax avoidance using double taxation agreements
Saturday, August 6th, 2011HMRC proposes a different method to counter prevent continuing exploitation of the provisions of DTAs. The UK has some 120 bilateral double taxation agreements (DTAs) with other countries, the purpose of which is the avoidance of double taxation, i.e. situations where tax liabilities on the same payments in both countries, and the prevention of fiscal [...]
Consultation on listing high risk tax avoidance schemes
Friday, June 10th, 2011Proposals to impose additional penalties on avoidance scheme users who continue to use a listed schemes purely to gain financial advantages. Devising and selling tax avoidance schemes is a lucrative business and HMRC’s regime for detecting and closing down abusive schemes centres around the Disclosure of Tax Avoidance Schemes (DOTAS) regime. Promoters of avoidance schemes [...]
