The next step in dissuading those who may consider aggressive tax avoidance structures to be fair game has now been taken with a proposal that will ensure that it is not a zero-sum game.
The consultation on new tax avoidance ‘black lists’ proposes that HMRC will publish lists of schemes that they regard as representing unacceptable attempts at tax avoidance which they believe are unlikely to be effective.
The range of taxes will encompass all those taxes at present within the DOTAS rules and taxpayers will therefore potentially need to report both that a scheme is one reportable under DOTAS (the scheme reference number) and listed.
Removing the cashflow advantage
In a system expected to operate...
