100% Fines for Banks and Accountants that Help Tax Avoiders

[The Plantswoman]

I apologise if this has been done before but it's a new one on me.

(From today's Times - paywall & app wont even let me post a link)

Banks and accountancy firms that help businesses to avoid tax will be hit with massive fines for the first time under proposals set out by the treasury.

Looking at the detail, it seems to be only targeting avoidance schemes at present. But "helping business to avoid tax" - that statement seems to indictate a potentially broader remit.

[mudskipper]

I apologise if this has been done before but it's a new one on me.

(From today's Times - paywall & app wont even let me post a link)



Looking at the detail, it seems to be only targeting avoidance schemes at present. But "helping business to avoid tax" - that statement seems to indictate a potentially broader remit.

jamesbrown posted links here

It appears to refer to schemes that are subsequently found to be illegal. If it prevents organisers dreaming up and promoting schemes whilst bearing no risk then it sounds like a good move. Now they'll need to believe their own spiel.

[DotasScandal]

In related news, 100% of Tax Advisors might want to consider a career change, lest they're happy to be debased to "glorified clerk" status.

[mudskipper]

Published here

https://www.gov.uk/government/upload...n_document.pdf