Plans include increasing the pressure on advisers who market “abusive” schemes while making it easier for taxpayers to identify such schemes.
Disclosure of Tax Avoidance Schemes (DOTAS) rules will be made stronger, for example by giving HMRC more powers to force promoters to tell them about such schemes and who is using them.
In addition, rules will be tightened to make it easier to impose penalties for failure to provide information to HMRC.
The Government is also looking at publishing warnings about tax avoidance schemes that are effectively being mis-sold, making it easier for taxpayers to identify when they are on the receiving end of a hard sell by a less reputable promoter.
Exchequer Secretary to the Treasury, David Gauke, comments: “Some might say that consultation documents on tax administration are an effective cure for insomnia, but this is one that will keep the promoters of aggressive tax avoidance schemes awake at night.”
He adds: “The major reforms to the system we consult on today can, informed by responses, place DOTAS once again at the forefront of anti avoidance measures globally.”
Source:
bankingtimes.co.uk
