The proposal is to give HMRC more power to tackle promotional material that tries to market tax avoidance schemes to UK investors.
HMRC was tasked a number of years ago to crack down on tax avoidance which has been immensely successful saving the tax payer £billions each year and now the focus is on those introducers that market tax avoidance schemes. It is not just the arranger now or the tax avoider themselves, it is the person or business that markets those schemes whether by post, email, online or social media.
The paper suggests:
We have already suggested that HMRC has been immensely successful in tackling tax avoidance, that said HMRC has had little power to pursue promoters of large-scale tax avoidance schemes with eth reality that consumers that get caught up in such schemes are left ‘high and dry’ with no legal representation to defend themselves and HMRC need power to force tax penalties on the avoidance scheme promoters to cover any tax penalties and legal costs.
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