HMRC used to do a lot of detective work to discover tax-avoidance schemes dreamt up by clever financial advisors – but the new act requires all financial advisors to report any tax-reducing ideas and how they work. By law. If they don't, they risk large fines and other penalties.
So, if you're on or asked to join a clever tax avoidance scheme, HMRC will know all about you. And they'll know you're avoiding paying your fair share of tax. So they're going to come after you, aren't they?
Tax is an ever-changing headache. For none of these worries join Tarpon instead.
To speak to one of our tax experts call 0845 643 1580.