AccountancyAge reports that HMRC is considering daily checks on firms offering aggressive tax avoidance schemes.
At the moment anyone establishing an avoidance scheme must notify HMRC under the Disclosure of Tax Avoidance Schemes (DOTAS) facility within five days of starting to market it to clients.
HMRC can combat schemes in tribunals, but until a verdict is reached advisers can continue to market their avoidance arrangements.
HMRC's plans to monitor accountants in real time will enable it to see the schemes as they are devised, and be blocked before they reach market should they be deemed too aggressive.
The proposals will go under consultation this week.
I wonder how that will work in practice, given HMRC's lack of resources?
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"