Penalties for Enabling Tax Avoidance

The UK Government is introducing legislation under which penalties may be assessed against anyone who is involved in designing, establishing or assisting a taxpayer in relation to any tax arrangements that are defeated by HMRC and are considered abusive.

These new rules will, if enacted, apply to arrangements entered into on or after the date of Royal Assent of Finance Bill 2017 (expected to be this Summer), with actions before that date being disregarded. Read more.