As per the FT:
“The settlement opportunity will provide the certainty of some measure of tax relief whereas litigation may result in a worse outcome.”It said the offer was “cost-effective and consistent with the law”, adding that it would increase the pace of investigations and litigation for those that refused the offer. Taxpayers who settle will be charged interest but are unlikely to face penalties.
This of course is a tacit admission by HMRC that they cannot cope with the backlog of 41,000 tax avoidance cases.
Tax does have to be taxing.
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