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Insight

Penalties on tax avoidance

In the Spending Review and Autumn Statement 2015, the Chancellor announced that the Government will introduce a punitive penalty of 60% of tax due where HM Revenue & Customs successfully applies the In the Spending Review and Autumn Statement 2015, the Chancellor announced that the Government will introduce a punitive penalty of 60% of tax due where HM Revenue & Customs successfully applies the General Anti-Abuse Rule ("GAAR") on an abusive tax arrangement.  In addition, the Government intends to change the procedural requirements under GAAR with the aim of attacking marketed avoidance schemes more effectively.

Read the Spending Review and Autumn Statement 2015 documents at https://www.gov.uk/government/publications/spending-review-and-autumn-statement-2015-documents

 

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