UK Budget is targeting tax-avoidance measures

The UK's Inland Revenue has announced changes to strengthen its ability to prevent individuals and companies evading or avoiding tax. It has also cracked down on a number of popular capital gains tax (CGT) avoidance measures widely used by high net worth individuals. Chancellor Gordon Brown announced in the budget on 21 March that it aims to negotiate a series of information sharing agreements with other jurisdictions. Each country involved will then provide everyone's savings income details. The Government wants to establish many of these agreements to maintain as even a playing field a...