Tax Insider Tip: Good or Bad Tax Advice?
HM Revenue and Customs (HMRC) will generally seek to impose penalties on taxpayers who (for example) have made tax return errors resulting in their tax liabilities being understated. However, it is important to note that HMRC cannot impose penalties for errors where the taxpayer has taken reasonable care.
In Junes's issue of Business Tax Insider, and in article you can read for free on our website, Mark McLaughlin looks at whether reliance on professional advice can prevent penalties if tax planning involving avoidance arrangements goes wrong.
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>> ‘Good’ Or ‘Bad’ Tax Advice?
Happy Tax Saving!