Strengthening tax avoidance sanctions and deterrents | KPMG | UK

Autumn Statement 2016: Strengthening tax avoidance sanctions and deterrents

Strengthening tax avoidance sanctions and deterrents

The Government has confirmed that it intends to bring forward a new penalty regime targeted at enablers of defeated tax avoidance schemes.

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Partner, Head of Private Client, Tax

KPMG in the UK

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The Government has confirmed that, having conducted an extensive consultation, it intends to introduce a new penalty for “enablers” of defeated tax avoidance schemes.

This is not a surprising development and KPMG supports HMRC’s objective of cracking down on egregious tax avoidance. 

Our primary concern with the proposals as originally published was the broad scope which had the potential to have a chilling effect on normal commercial transactions. 

The Chancellor’s statement that the regime “will reflect…extensive consultation and input from stakeholders” is welcomed and we look forward to seeing the draft legislation. 

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Amanda Pearson

Chris Davidson

Autumn Statement 2016: Individuals Overview

Autumn Statement 2016: Individuals Overview

There were few new tax announcements affecting individuals, but confirmation of pre-announced plans and measures protecting the tax base.

Autumn Statement 2016

Autumn Statement 2016

The Autumn Statement took place on 23 November. KPMG's coverage is available from this hub.

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