I have just learnt that a medium sized firm is disclosing to HMRC all their incorporations and obtaining an 8 digit sheme number. To me this seems a complete over reaction and I can't believe that HMRC want us all to do this.
Do others agree, or am I the only accountant not disclosing incorporations under these new Tax Avoidance Disclosure rules?
Ali
Replies (2)
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But why are they incorporating the companies?
Without knowing the firm's practice in incorporating companies, it is impossible to comment.
Does'incorporate' include buying ready made companies off the shelf?
Perhaps the firm concerned only incorporates companies as part of tax planning schemes