‘Britain’s only listed accountancy firm is to close its specialist tax division in a move that will be regarded as another victory for Revenue & Customs against tax avoidance by the rich.
‘Britain’s only listed accountancy firm is to close its specialist tax division in a move that will be regarded as another victory for Revenue & Customs against tax avoidance by the rich.
‘RSM Tenon said yesterday that it would stop offering products through its Premier Strategies division because recent moves by the government to clamp down on what it perceives as aggressive tax avoidance had made the tax planning business too difficult and risky.
‘Chris Merry, Tenon’s chief executive, said: “The market for specialist tax has changed dramatically over the past few years as the government has tightened legislation. Tailored tax-saving products have in the past had a strong audience, but have become much more difficult to offer.”
‘Premier, which Tenon acquired in 2004, was one of the leading players in the tax planning industry, which helps companies and wealthy individuals to reduce their tax bills legally. This market has been squeezed in the past five years because the government has closed loopholes, challenged many schemes in court and brought in rules requiring schemes to be disclosed to HMRC.’
‘Britain’s only listed accountancy firm is to close its specialist tax division in a move that will be regarded as another victory for Revenue & Customs against tax avoidance by the rich.
‘Britain’s only listed accountancy firm is to close its specialist tax division in a move that will be regarded as another victory for Revenue & Customs against tax avoidance by the rich.
‘RSM Tenon said yesterday that it would stop offering products through its Premier Strategies division because recent moves by the government to clamp down on what it perceives as aggressive tax avoidance had made the tax planning business too difficult and risky.
‘Chris Merry, Tenon’s chief executive, said: “The market for specialist tax has changed dramatically over the past few years as the government has tightened legislation. Tailored tax-saving products have in the past had a strong audience, but have become much more difficult to offer.”
‘Premier, which Tenon acquired in 2004, was one of the leading players in the tax planning industry, which helps companies and wealthy individuals to reduce their tax bills legally. This market has been squeezed in the past five years because the government has closed loopholes, challenged many schemes in court and brought in rules requiring schemes to be disclosed to HMRC.’
