Taken from HMRC website
A major tax avoidance scheme has been closed down today in a legislative move announced by the Paymaster General today.
The scheme which was disclosed to HM Revenue & Customs (HMRC) under the disclosure regime in Finance Act 2004 and would have sought to artificially generate losses by buying and selling the right to dividends on shares.
Paymaster General, Dawn Primarolo said:
"The use of avoidance schemes such as this which get around the intention of Parliament is unacceptable and unfair to the majority of taxpayers who pay their fair share.
The disclosure regime has enabled HMRC to make real progress in understanding how these complex schemes work and to close the loopholes upon which they depend at the earliest opportunity.
If necessary we will not hesitate to move against similar schemes in the future."
Anyone know who this is?
A major tax avoidance scheme has been closed down today in a legislative move announced by the Paymaster General today.
The scheme which was disclosed to HM Revenue & Customs (HMRC) under the disclosure regime in Finance Act 2004 and would have sought to artificially generate losses by buying and selling the right to dividends on shares.
Paymaster General, Dawn Primarolo said:
"The use of avoidance schemes such as this which get around the intention of Parliament is unacceptable and unfair to the majority of taxpayers who pay their fair share.
The disclosure regime has enabled HMRC to make real progress in understanding how these complex schemes work and to close the loopholes upon which they depend at the earliest opportunity.
If necessary we will not hesitate to move against similar schemes in the future."
Anyone know who this is?
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