In January 2014 HM Revenue and Customs (“HMRC”) published a consultation document titled “Tackling marketed tax avoidance” which set out Government proposals to change the economic incentives of avoiding tax. The proposals have been carried into Financial Bill 2014 and, if approved by parliament, will become law in July 2014. The proposals have retrospective effect for some and persons who have participated in tax avoidance arrangements should seek urgent advice.
Please click here to read about Tax Avoidance: Follower Notices and Accelerated Payment Notices.