Harnett Accountants Kingston – Taxman Must Steer Clear Of Advisory Board

Harnett Accountants Kingston brings you this report from the Accountancy Age website, warning that the taxman must not be allowed on the advisory panel which will look at tax schemes.

“THE TAXMAN MUST STAY CLEAR of an advisory panel proposed to determine whether tax schemes are abusive, according to the CIoT and ATT.

In response to the consultation on introducing a general anti-abuse rule (GAAR), the tax bodies warned that the proposals risk handing too much power to HM Revenue & Customs.

A panel for looking into the true purpose of tax schemes – and determining whether they are contrived to avoid tax – should have no HMRC representatives.”

Source: Full article

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