Tax avoiders face upfront fines in HMRC crackdown

Currently, HMRC only gives suggestions of the types of tax schemes it is likely to challenge in its online consumer publication Spotlight. If a scheme is challenged, HMRC can only reclaim the tax avoided after proving the scheme is illegal, which can often take several years. Under the new proposals, specific schemes HMRC believes are "aggressive" and being used inappropriately will be listed in regulations. Anyone found to be using the schemes will have to pay the tax avoided upfront, plus an extra charge on that tax. The responsibility to declare use of such schemes would shif...