The Government confirmed its commitment to tackling tax evasion and avoidance, alongside aggressive tax planning and non-compliance. Those 'seeking to evade or avoid tax using offshore structures' are of particular interest to HMRC, with a consultation announced on the requirement to notify HMRC of such structures.
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
This article was previously published on www.smithandwilliamson.com prior to the launch of Evelyn Partners.