ICAEW publish Rep 56/17: penalties for enablers of tax avoidance
Released 16 May 2017
The Institute of Chartered Accountants in England and Wales (ICAEW) has published Representation 56/17 Penalties for enablers of defeated tax avoidance (dated 21 April 2017) commenting on Clauses 125 and Schedule 27 of the Finance Bill 2017 published on 20 March 2017.
Clause 125 and Schedule 27, which were removed from Finance Bill 2017 before its enactment as Finance Act 2017, introduce a new penalty on a person who helps to make available (‘enable’) a tax avoidance scheme to a taxpayer that is later defeated. The provisions are set to be included in a future finance bill.
More details are available from ICAEW.