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14/09/2015
£1bn Collected From Tax Avoidance Scheme Users
HMRC has collected £1 billion in tax payments from users of tax avoidance schemes since the introduction of the new rules on disputed tax, Financial Secretary to the Treasury, David Gauke, has announced.
The Accelerated Payments scheme was introduced by the government last year to tackle "the economics of avoidance". Under these rules, disputed tax is paid up front by avoidance scheme users.
Financial Secretary to the Treasury David Gauke said: "The Government will not tolerate tax avoidance and Accelerated Payments has been a real game changer.
"It is no longer possible for these individuals to avoid tax and sit on the money while their affairs are investigated. This first £1bn received in Accelerated Payments shows that we are turning the tables on those looking to avoid paying their fair share."
Jennie Granger, Director General for Enforcement and Compliance at HMRC, added: "Tax avoiders are running out of options. People now have to pay upfront and dispute later. We are winning around 80% of avoidance cases that people litigate. And many more are settling before litigation."
(MH/CD)
The Accelerated Payments scheme was introduced by the government last year to tackle "the economics of avoidance". Under these rules, disputed tax is paid up front by avoidance scheme users.
Financial Secretary to the Treasury David Gauke said: "The Government will not tolerate tax avoidance and Accelerated Payments has been a real game changer.
"It is no longer possible for these individuals to avoid tax and sit on the money while their affairs are investigated. This first £1bn received in Accelerated Payments shows that we are turning the tables on those looking to avoid paying their fair share."
Jennie Granger, Director General for Enforcement and Compliance at HMRC, added: "Tax avoiders are running out of options. People now have to pay upfront and dispute later. We are winning around 80% of avoidance cases that people litigate. And many more are settling before litigation."
(MH/CD)
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