Certain niche promoters of tax planning arrangements have recently chosen to increase the extent to which they promote directly to businesses, rather than, as historically has been the case, to advisors such as ourselves for evaluation.We undertake due diligence on such proposals on a regular basis and, with a few honourable exceptions, find that we are unable to recommend them. This is because of concerns over, for example, the robustness of the tax law analysis, the conviction and strength of supporting opinions, the cost vs benefit ration, the evidence of success when faced with HMRC enquiry, the professionalism of documentation and implementation, and not least of 'after-sales' care.
“Now I understand it properly, why would I want to go into a scheme like that?”
- "Raise the white flag" - Are tax schemes worth the effort any more?
- "Give me pure tax evasion any day"
- HMRC challenge sideways loss relief tax avoidance
- HMRC confuse tax avoidance and tax evasion again
- Beware of HMRC spotlights - EBTs now included
- Were you wasting time advocating this tax scheme?
- The beginning of the end for structured tax avoidance schemes?
- Bending vs breaking tax rules