Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
Direct tax
VAT
Total disclosures
Year to 31 March 2010
177
12
189
Year to 31 March 2011
118
13
131
Year to 31 March 2012
131
7
138
The government is expected to consult next month on the introduction of a ‘general anti-abuse rule’ (GAAR), after it announced at Budget 2012 that it accepted the recommendations of Graham Aaronson’s finding that ‘a broad spectrum general anti-avoidance rule would not be beneficial for the UK tax system’.
Some tax professionals have warned that the proposed GAAR would increase uncertainty. Responding to the Budget 2012 announcement Patrick Stevens, Tax Partner at Ernst & Young, said the rule might ‘sweep in many ordinary tax planning decisions’. But campaigners argue that the rule would catch only the ‘worst’ avoidance schemes, and the Association of Revenue and Customs – representing senior HMRC officials – has said it could ‘widen perceptions of what is responsible tax planning and so make it harder to tackle avoidance’.
Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
Direct tax
VAT
Total disclosures
Year to 31 March 2010
177
12
189
Year to 31 March 2011
118
13
131
Year to 31 March 2012
131
7
138
The government is expected to consult next month on the introduction of a ‘general anti-abuse rule’ (GAAR), after it announced at Budget 2012 that it accepted the recommendations of Graham Aaronson’s finding that ‘a broad spectrum general anti-avoidance rule would not be beneficial for the UK tax system’.
Some tax professionals have warned that the proposed GAAR would increase uncertainty. Responding to the Budget 2012 announcement Patrick Stevens, Tax Partner at Ernst & Young, said the rule might ‘sweep in many ordinary tax planning decisions’. But campaigners argue that the rule would catch only the ‘worst’ avoidance schemes, and the Association of Revenue and Customs – representing senior HMRC officials – has said it could ‘widen perceptions of what is responsible tax planning and so make it harder to tackle avoidance’.
