Clamp down on enablers of tax avoidance schemes

HMRC says it is clamping down on the promoters and enablers of tax avoidance schemes in the wake of the loan charge controversy.

HMRC says it is clamping down on the promoters and enablers of tax avoidance schemes in the wake of the loan charge controversy.

Penny Ciniewicz, Director General of Customer Compliance at HMRC, told the Treasury Select Committee that HMRC is 'doubling the resources' to tackle those in the 'avoidance supply chain'.

In response to questions about the loan charge, Ms Ciniewicz said:

'We have more than 100 current investigations into promoters [and enablers], and we're keeping a very close eye on the market for avoidance. We are spotting schemes as they emerge and we're tackling them.'

The loan charge policy is currently subject to an independent review. It came into effect on 6 April this year, and applies to anyone who used 'disguised remuneration' schemes. The legislation added a 45% non-refundable charge on all loans advanced through the schemes, unless the individual had agreed with HMRC to settle their tax affairs.

Internet link: ICAEW news

© 2020 Tussies Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here. powered by totalSOLUTION

Tussies Chartered Accountants is the trading name of:
Tussies Limited Registered office Tussies Chartered Accountants, 31 Wilmslow Road, Cheadle, Cheshire SK8 1DR Registered in England and Wales 03143582
Tussies Manchester Limited Registered office Tussies Chartered Accountants, 31 Wilmslow Road, Cheadle, Cheshire SK8 1DR Registered in England and Wales 05649121

Company details

Read our terms and conditions here | Read our Privacy Notice here