Govt announces action against tax dodgers
3rd December 2012 | NewsThe government has announced the introduction of a new range of measures designed to curb tax dodging.
As part of the effort to close tax loopholes, Chancellor George Osborne has confirmed that an additional £77 million is to be handed to HM Revenue & Customs (HMRC) in this Spending Review period to expand their anti-avoidance and evasion activity.
The move is expected to generate an additional £2 billion per year in tax payments.
What's more, steps are being taken to close the net on the marketers of aggressive tax avoidance schemes.
"The government is clear that while most taxpayers are doing their bit to help us balance the books, it is unacceptable for a minority to avoid paying their fair share, sometimes by breaking the law," Mr Osborne commented.
"We are determined to tackle this problem and HMRC are making good progress, but we are giving them additional tools to bring in more."
He said, too, that the new measures will help HMRC to clamp down on those so-called cowboy advisors who sell tax avoidance schemes.
Posted by Emily Smith