Mark Lee's recent article on clients querying tax schemes is very timely, as HMRC continues to turn the screw on offshore evasion in collaboration with US and Australian tax administrations.
The tax authorities are currently sifting through a mountain of data on offshore tax evasion data. But we should not be surprised at the increase in activity against these tax schemes, as the Revenue had pre-warned us about the strategy in in its December 2012 paper, Lifting the Lid on Tax Avoidance Schemes.
It described proposals for improving the information available to taxpayers about such schemes and the risks of using them. However, what it really meant was that...
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Jennifer Adams is Consulting Editor of AccountingWEB and is a professional business author specialising in corporate governance and taxation. She runs her own accounting and consultancy business with offices based in Surrey and Dorset.