You are here: Home - Household Bills - News -

Tax avoidance firms under scrutiny

0
Written by:
23/07/2012
Government plans to crackdown on aggressive tax avoidance schemes by forcing companies to hand over details of wealthy clients using the set ups.

The BBC reports the plan is part of a consultation on cutting tax avoidance. Treasury minister David Gauke is set to tell the Policy Exchange think tank that scheme operators will be named and shamed for not playing by the rules.

Last month comedian Jimmy Carr was exposed by a national newspaper for his use of a tax avoidance scheme.

He apologised to the public shortly afterwards.

The Treasury estimates about 14% of all unpaid tax income is due to aggressive avoidance schemes. Although they are not illegal, ministers are determined to clamp down on them, the BBC added.

As well as disclosing clients’ details, the firms will also have to say how all their tax avoidance schemes work, the report said.

The move comes alongside plans to legislation to curb tax avoidance through a general anti-avoidance rule.

Related Posts

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @unitetheunion: It takes the average worker a WHOLE YEAR to earn the same a FTSE 100 CEO earns in just THREE DAYS | Fat cat’ bosses earn…
  • Are you retiring in 2019? @YourMoneyUK gives its 10 top tips for working towards a smooth retirement >… https://t.co/67lQbDmnsr
  • RT @unitetheunion: It takes the average worker a WHOLE YEAR to earn the same a FTSE 100 CEO earns in just THREE DAYS | Fat cat’ bosses earn…

Read previous post:
Gilt yields hit fresh record low as markets dive

Global equity markets are tumbling this morning as the eurozone crisis once again takes centre stage, with Spain's debt costs...

Close