Tax Avoidance DOOM

[IR35 Avoider]

These are just clumsy, stupid scare tactics. If any such cases ever came to court, and no evidence of evasion is proved, they'll just be thrown out.

According to someone being interviewed on news last night, the law will achieve its aim without any need for court cases. What will happen is that accountant's professional indemnity insurance will refuse to cover them for penalties from tax avoidance advice that doesn't work, consequently accountants will refuse to give any advice that has any chance of failing, and that part of the tax avoidance industry will cease to exist.

[b0redom]

...but then so would anyone with a pension, an ISA, etc etc etc

[kaiser78]

How many more times? Tax avoidance is Not Illegal.

In fact, arguably, accountants and financial advisors are legally obliged to help their clients minimise tax, within the latter of the law.

These are just clumsy, stupid scare tactics. If any such cases ever came to court, and no evidence of evasion is proved, they'll just be thrown out.

Correct, but if it was made illegal then the likes of Google, Amazon, Costa, Vodafone etc etc would be forced to cough up the right amount of tax they rightfully owe. But in our world of commercialism, profit making, free markets and globalisation this is never going to happen...

[NigelJK]

I think the remit is purely avoidance schemes

Not even that, the BBC has to put the truth in there some where and at the very end of the report on R4 they mentioned that it was for cases that had been won in court by HMRC, so no change there except the accountants are now also liable.No doubt as many of the ltd co's fold pending such cases limiting how much HMRC get. I expect HMRC to go after the accountancy in these cases., they'd still have to prove their case tho'

[LondonManc]

Help their clients pay the correct amount of tax within the letter of the law

Just saying!

Agree with the comment about avoidance/evasion, looking through the consultation document, it's geared towards the schemes such as EBT's, etc. The press will clearly like this as it's a headline grabber but looking at the detail behind it, business as usual from our perspective and sure it will be the same for the other guys in the accounting forum.

I'm sure we'll shortly receive an email from the ICAEW in response.

Correct amount being the least amount that they have to pay, obviously

[Darren at Fox-Bartfield]

Tax

How many more times? Tax avoidance is Not. Illegal.

In fact, arguably, accountants and financial advisors are legally obliged to help their clients minimise tax, within the latter of the law.

These are just clumsy, stupid scare tactics. If any such cases ever came to court, and no evidence of evasion is proved, they'll just be thrown out.

Help their clients pay the correct amount of tax within the letter of the law

Just saying!

Agree with the comment about avoidance/evasion, looking through the consultation document, it's geared towards the schemes such as EBT's, etc. The press will clearly like this as it's a headline grabber but looking at the detail behind it, business as usual from our perspective and sure it will be the same for the other guys in the accounting forum.

I'm sure we'll shortly receive an email from the ICAEW in response.

[OwlHoot]

U.K. Accountants Face Fines for Helping Tax Avoidance - WSJ

Advisers face big fines for tax avoidance under looming crackdown - FT.com

City firms could face 100pc fines for helping with tax avoidance

https://www.theguardian.com/business...ce-large-fines

Forbes Welcome

Tax avoidance: Accountants face tougher penalties - BBC News

How many more times? Tax avoidance is Not. Illegal.

In fact, arguably, accountants and financial advisors are legally obliged to help their clients minimise tax, within the latter of the law.

These are just clumsy, stupid scare tactics. If any such cases ever came to court, and no evidence of evasion is proved, they'll just be thrown out.

[LondonManc]

"These tough new sanctions will make would-be enablers think twice and in turn reduce the number of schemes on the market," said the Financial Secretary to the Treasury, Jane Ellison.

Looks like they're talking about the Schemes that are in one of our sub-forums rather than anything IR35 related.

[The Plantswoman]

U.K. Accountants Face Fines for Helping Tax Avoidance - WSJ

Advisers face big fines for tax avoidance under looming crackdown - FT.com

City firms could face 100pc fines for helping with tax avoidance

https://www.theguardian.com/business...ce-large-fines

Forbes Welcome

Tax avoidance: Accountants face tougher penalties - BBC News

Yes, I posted about this in Accounting this morning oddly enough.

I think the remit is purely avoidance schemes according to the Times article but I haven't had time to study the links posted by Jamescooper yet.

[AtW]

U.K. Accountants Face Fines for Helping Tax Avoidance - WSJ

Advisers face big fines for tax avoidance under looming crackdown - FT.com

City firms could face 100pc fines for helping with tax avoidance

https://www.theguardian.com/business...ce-large-fines

Forbes Welcome

Tax avoidance: Accountants face tougher penalties - BBC News