Accountancy firms and part-time workers employed through agencies face greater scrutiny from HMRC after the government revealed its draft Finance Bill 2014 legislation dominated by new measures to counter tax avoidance.
Promoters of tax avoidance schemes deemed abusive by HMRC will be named and their intermediaries will be subject to new information powers and penalties. Customers of “designated promoters” will have to tell HMRC they have used such a promoter.
Taxpayers in dispute with HMRC will have to pay tax up front if a tribunal decision goes in HMRC’s favour, the government plans. This could prove controversial but a decision to delay this draft legislation until January has been welcomed by the Chartered Institute of Taxation (CIOT).
The CIOT said...
About Nick Huber
I’m a specialist business journalist and have a particular interest in tax and technology.