- 5 updates
In response to the Government's proposals announced today, a spokesperson for protest group UK Uncut told ITV News that clamping down on the latest tax avoidance schemes requires a change in law.
The TaxPayers' Alliance pressure group said today's Government proposals to clamp down on the latest methods of tax avoidance are a "poor substitute for serious reform of the tax system."
The new Government proposals aiming to crack down on tax avoidance will include warnings to inform taxpayers when they are being mis-sold schemes by less reputable promoters.
Treasury Minister David Gauke said the overall changes would bring the response to tax avoidance up to date in the wake of new schemes that had outfoxed officials.
UK promoters will be made to hand over customer databases under the proposals, allowing HM Revenue and Customs (HMRC) to formally warn clients directly about the deals they have signed up to and to work out how much tax they owe if the scheme fails.
Under the reforms, which will go out to consultation, a promoter who has been penalised for not abiding by the rules will also have to provide extra information to HMRC on all of their schemes, not just the one they were reprimanded for.
Treasury Minister David Gauke will tell the Policy Exchange:
Promoters of aggressive tax avoidance schemes will be forced to disclose their client lists to inspectors under a new crackdown, the Government will announce today.
Think tank scheme operators will be "named and shamed" for sharp practice, Treasury Minister David Gauke will tell the Policy Exchange.
It follows a wave of revelations about the financial loopholes used by the rich and famous to legally side-step hefty tax bills.
Last month comedian Jimmy Carr admitted to making a "terrible error of judgment" after it emerged he was using a scheme to pay an income tax rate as low as 1%.