Comments
The British Government is considering whether to require the identification of individuals who sponsor tax avoidance schemes.
The proposal was disclosed today as the Government’s tax office launched a formal consultation on a range of measures to crack down on plans designed purely to avoid tax.
The Treasury Minister, Mr David Gauke, says the measures are aimed at plans which are clearly contrary to the intentions of Parliament, which lack a commercial, non-tax rationale and where the result looks “too good to be true.”
Her Majesty’s Revenue and Customs says identifying individual sponsors would be significant in cases where a firm is dissolved, moved offshore or the individual moves to another firm.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.