BUDGET 2006: The Government to continue tackling tax avoidance

In recent Budgets, the Government has built on this approach and introduced disclosure rules to allow HMRC to take rapid, focused action to target anti-avoidance measures based on purposive tests and legislation with effect from the date of announcement, as a proportionate response to those who seek to avoid paying tax. The Government will introduce further measures which will close down a number of avoidance schemes which use financial products as well as close any loopholes in the controlled foreign companies legislation.