Tax Avoidance: Tackling Marketed Avoidance Schemes, HM Revenue & Customs
- ISBN-10
- 0102980497
- ISBN-13
- 9780102980493
- Category
- Business & Economics
- Pages
- 48
- Language
- English
- Published
- 2012-11-21
- Publisher
- The Stationery Office
- Author
- Great Britain: National Audit Office
Description
The tax avoidance disclosure regime introduced in 2004 by HM Revenue and Customs, DOTAS, has helped the department make some important headway in reducing the opportunities for avoidance. However, there is little evidence that HMRC is making progress in preventing the sale of highly contrived tax avoidance schemes to a large number of taxpayers.However, the DOTAS has helped HMRC to change tax law and prevent some types of avoidance activity and also helped to change the market of tax avoidance schemes, the larger accountancy firms are now less active in this area.Tax avoidance is not illegal and is therefore inherently difficult to stop. A potential avoider can use a scheme to gain a tax advantage until HMRC can prove that the arrangement is not consistent with tax law. This can take many years and often requires litigation. HMRC has increased its focus on the tax affairs of high net worth and affluent individuals. But there are still 41,000 open avoidance cases and HMRC has yet to demonstrate how this number will be reduced. The large number of users of mass-marketed schemes presents a challenge to HMRC, seeking to tackle such schemes by litigating a few lead cases to demonstrate to other users that the scheme will not succeed in the courts. HMRC has an anti-avoidance strategy, but does not monitor its costs and has not yet identified how it will evaluate its effectiveness. This limits its ability to make informed decisions about where to direct its avoidance activity.
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Other editions
-
- 2013-04-26
- 60 pages
- Paperback
- The Stationery Office
-
- 2013-02-19
- 66 pages
- Paperback
- The Stationery Office
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