This sentence appears in HMRC’s “Single departmental plan” for 2015‑20:
“We will raise an additional £5bn a year by 2019‑20 by tackling tax avoidance and tax planning, evasion and compliance, and by addressing imbalances in the tax system.”Thus it would seem that avoidance, which is perfectly legal, will become "illegal" in the eyes of HMRC. In fact, even the very attempt to plan your tax affairs will seemingly incur the wrath of HMRC.
George Bull, of RSM, is quoted by the Telegraph:
“Most of the tax planning we see involves individuals and companies doing no more than claiming the tax reliefs to which they are entitled, for purposes specifically intended by Parliament.HMRC appears to be getting ideas above its station, and needs to be slapped down!
An attack on routine tax planning would be a major shift in HMRC’s approach and would seem to pit the administration (in the form of HMRC) against the legislature (Parliament), which has enacted specific legislation for specific purposes.
If the plain words of the HMRC single departmental plan are to be taken at face value, it looks as though we can expect a seismic shift in the way taxes are dealt with in the UK.”
Tax does have to be taxing.
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They're also tackling 'compliance'?? Perhaps HMRC should consider employing staff who can draft using the English language.
ReplyDeleteUtter utter horseshit which will be exposed as such either by Private Eye or even a glance at the published figures by a depatment which constantly crows about its figures when in fact only 39 % is cash collected -the figure will be nothing like 5 billion "raised " but this sad bullshit will then be long forgotten
ReplyDeleteIs tax planning not an entirely legitimate part of managing an individual or company's finances? Why do hmrc not understand the basics??? Making use of reliefs intended by Parliament for specific purposes for wider economic benefit would seem to be a sensible approach. hmrc's words at face value, which seem clear enough, are indeed really worrying for taxpayers who have worked hard to contribute to the economy and have done nothing wrong. I recall the former hmrc boss saying that she's not a tax expert so this may well be another basic misunderstanding from them.
ReplyDelete