Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a639605
Osborne launches crackdown on ‘cowboy’ tax advisers
by Alex Steger on Dec 04, 2012 at 07:59
Chancellor George Osborne yesterday launched a crackdown on ‘cowboy ‘tax advisers who design and promote tax avoidance schemes.
Osborne (pictured) introduced legislation aimed at targeting those responsible for designing and promoting abusive schemes used to shelter wealth from the taxman, according to the Evening Standard.
Under laws planned for next year tax advisers responsible for the schemes will face fines if they fail to be open with HM Revenue & Customs (HMRC), and must increase the range of information they must pass on to the taxman team dealing with loopholes.
The Standard reported Osborne as saying: ‘The action we are announcing today will help HMRC close in not only on those who seek to avoid or evade tax, but on the dubious “cowboy” advisers who sell them the schemes and dodges they use to cheat the law-abiding majority.’
Osborne is expected to announce further measures to clamp-down on tax avoidance, through shutting down loopholes, in his Autumn Statement on Wednesday 5 December.
News sponsored by:
Today's top headlines
- Saturday Papers: Backlash to hit scandal-tainted City
- Lights, camera, action! Widows and Helm launch film pension scheme
- High Court judge imposes freezing order on Harlequin bosses' assets
- Tenet scraps five-day Twitter checks with new social media policy
- PIMS 2013: Wraps reject move to flat-fee pricing
More about this article:
What others are saying
by Himanshu Singh on May 18, 2013 at 04:18