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The net is closing

26 November 2013 / Isobel Clift
Issue: 4430 / Categories: Comment & Analysis , Avoidance , Investigations

The Revenue’s approach to tax dodging and the questions advisers should be asking clients

KEY POINTS

  • National and international moves towards greater tax transparency.
  • Difference between HMRC’s campaigns and their regional taskforces.
  • Role of the general anti-abuse rule.
  • HMRC prosecutions are increasing.
  • What questions should practitioners be asking and what advice should they be giving to their clients?

The clampdown on tax evasion and avoidance has become an increasingly hot topic in recent months.

It has been estimated that of the £32bn tax gap arising in 2010/11 £19.2bn was a direct result of tax evasion or avoidance.

At the G8 summit held in June 2013 tax compliance and greater international tax transparency were among the main issues discussed and the government announced the steps that would be taken to tackle offshore tax evasion.

As a result HMRC have launched...

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