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Building on the principles established in the January 2015 consultation, HMRC have published Strengthening sanctions for tax avoidance - a consultation on detailed proposals outlining the detail of these measures to ensure that the changes are appropriately designed.
For serial avoiders, it includes:
Building on the principles established in the January 2015 consultation, HMRC have published Strengthening sanctions for tax avoidance - a consultation on detailed proposals outlining the detail of these measures to ensure that the changes are appropriately designed.
For serial avoiders, it includes:
- how the regime should be structured and what the entry criteria should be;
- the extra reporting requirements that should apply to serial avoiders;
- how a surcharge might work;
- restricting access to certain reliefs; and
- when it would be appropriate to name persistent serial avoiders.
On the GAAR penalty, the consultation covers the circumstances when a penalty will be charged, the rate chargeable, and safeguards to ensure proportionality. Further areas for consideration under the GAAR are also set out.
For promoters of tax avoidance schemes, the detail includes the new threshold criteria definitions, including the number of schemes to be considered over a specified period.
Responses should be emailed to ca.consultation@hmrc.gsi.gov.uk by 14 October.
