Protecting your on-line memories
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Accelerate payment for Tax avoiders.
New measures unveiled in the Queen's Speech (June 2014) will force those suspected of using tax avoidance schemes to pay tax up front.
HMRC will have the power to implement the new forward payment rules under the proposed changes, which some have said will treat people as being 'guilty until proven innocent', despite the chancellor offering compassion by stating that if people feel they have been wronged they can go to court and, if successful, they will receive their money back with interest, a situation we suspect will not be exploited by many once they have had to pay their tax up front!.
Tax avoidance schemes have received much publicity since Jimmy Carr and more recently Take That were linked with them, but the Treasury estimate that around 65,000 people may be caught under the new proposals that could raise around £2 billion, or £31,000 tax per case! Recession - what recession?
The most contentious part of the new rules is for those affected to include 'legacy stock' which means that those who have 'abused the system' in the past will be forced to pay.
Those using these schemes will be forced to pay whilst a decision is made on the legality of a scheme.
Tax avoidance 2014
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