Budget 2016: A mezze of measures tackling avoidance

Budget 2016: A mezze of measures tackling avoidance

Chris Davidson, tax director at KPMG in the UK, comments on the package of tax avoidance and evasion.

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Commenting on the package of tax avoidance and evasion measures announced in today’s Budget, Chris Davidson, tax director at KPMG in the UK, said:

“Over the past few years it has become almost traditional for the Chancellor to announce a £5 billion package of tax avoidance measures. In this Budget, the Chancellor revealed £12 billion package designed to tackle avoidance and evasion representing a significant increase compared with previous fiscal events.

“Today’s red book includes a very long list of measures as part of this package but these don’t appear to total £12 billion so currently it is not obvious where the full amount is to come from. Importantly, however, most components of avoidance package are policy changes designed to make the system fairer rather than directly tackling avoidance or evasion.

“Overall, apart from the significant changes introduced as part of the OECD BEPS project to address perceived avoidance by multi-nationals (some of which come into effect as early as tomorrow), the Chancellor seems to have largely tinkered around the edges.”


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For further information please contact:

Jess Liebmann, KPMG Corporate Communications

T: 0207 311 3245

M: 07551 135 778

E: jessica.liebmann@kpmg.co.uk 

KPMG Press office Tel:  +44 (0) 207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Budget 2016

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Expert insight and analysis of the Chancellor's 2016 Budget Statement.

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