Clampdown on tax and VAT avoidance in Finance Bill

The finance bill has paved the way for a more meaningful clampdown on tax avoidance, which seems to put the onus on taxpayers to own up to avoidance schemes.

23rd October, 2014

The finance bill has paved the way for a more meaningful clampdown on tax avoidance, which seems to put the onus on taxpayers to own up to avoidance schemes.

The act is tightening up existing tax law, specifically the Taxes Consolidation Act 1997.

Under new rules, if a person enters into what could be reasonably considered to be a tax avoidance transaction, then no tax advantage will arise. If they do claim a benefit, the Revenue...

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