Monday 23 July 2012

"Crackdown on tax avoidance proposed by government"

From the BBC:

HM Land Registry could force itself to update land valuations and hand itself the details of wealthy individuals who own valuable sites. The proposal is part of a consultation on completely eliminating tax avoidance.

Treasury minister David Gauke will tell the Policy Exchange think tank that as a single government body is now responsible for registering land ownership, valuing land and collecting the bulk of tax revenues via Domestic Rates, Business Rates or Agricultural Rates, there is no longer any need to "name and shame" tax avoidance scheme operators for not sticking to the rules.

Last month Prime Minister David Cameron pointed out that Jimmy Carr's annual Domestic Rates bill was now about the same as all the VAT and income tax he would have had to pay under the previous failed system of taxing income and output, assuming he had not taken advantage of any "morally wrong" tax mitigation schemes.

2 comments:

Bayard said...

"He defined "aggressive" schemes as those which are "contrived" to defy the will of Parliament by depriving the government of expected revenues"

without enriching the Conservative Party with a proportion of those revenues.

Unknown said...

Glad to see that the government has finally agreed.At long last, the government agrees on personal service companies' Tax avoidance,I have said for quite a number of years that personal service represents tax avoidance activity.