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HMRC publishes tax avoidance scheme list

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16th Jul 2014
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HMRC has published a list of 1,200 tax avoidance schemes, identified by their eight-digit serial reference numbers (SRNs).

The government department has said that it is owed about £7bn in tax from the schemes.

Later this month, people using these tax schemes, which have been disclosed to HMRC under the Disclosure of Tax Avoidance Schemes (DOTAS), will have to pay the tax HMRC says they owe within 90 days.

Taxpayers can get a refund on tax paid by going to court and proving that their scheme was legitimate tax planning and not aggressive tax avoidance that ignores the spirit of the law.

Around 33,000 taxpayers and 10,000 companies will be affected by the "accelerated payments" powers for HMRC, which are due to be introduced when the Finance Bill 2014 receives Royal Assent on 18 July.

Individuals owe about £5bn in tax and companies owe £2bn, according to estimations from the Revenue.

If people win legal challenges against their up-front tax payments, the amount of tax HMRC collects could be smaller. 

According to HMRC's analysis  of how the accelerated payments will affect people and businesses, 85% are male, nine-in-10 using tax avoidance schemes are aged between 35 and 64, and 5% are under 35

The Revenue said that the list is undergoing continual review and that they will publish their next list in October 2014.

Replies (3)

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By carnmores
16th Jul 2014 16:54

come on

name the schemes

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By Paul D Utherone
17th Jul 2014 10:10

One was mentioned on the news this morning

in the HMRC 'spin' on avoidance schemes today and the report on Newsnight taking another stick to Andrew Mitchell

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By ShirleyM
17th Jul 2014 14:27

1200 schemes?

That is a hell of a lot to investigate and litigate against. It must be like painting the Forth Bridge, ie. as soon as one is thrown out another pops up in it's place.

I suppose that is what the promoters rely on ... taking pot luck that HMRC won't get around to investigating their scheme. There isn't any punishment for promoting illegal schemes and they get to keep the fees, so it's a risk worth taking.

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