The Treasury is to consult on a range on new measures to crackdown on promoters of tax avoidance schemes as it seeks to boost tax revenue.
Financial advisers, tax advisers and other intermediaries and advisers are among those in the sights of the Treasury consultation.
The Treasury released details of its consultation today as part of Chancellors’ Spring Statement.
The Treasury says it wants views on a range of new measures to “close in” on promoters of tax avoidance.
The proposals could include giving HMRC additional powers and stronger sanctions to enable it to “effectively disrupt” the business model promoters rely on, the Treasury says.
The government says it wants to make a “step change” to tackle the small number of remaining promoters of tax avoidance. It says this would contribute to closing the tax gap attributable to marketed tax avoidance.
The government wants views on proposals in four areas:
- Expanding the scope of the Disclosure of Tax Avoidance Schemes (DOTAS) regime.
- Introducing a Universal Stop Notice and Promoter Action Notice
- Tackling controlling minds and those behind the promotion of avoidance schemes through new highly targeted obligations and stronger information powers
- Exploring options to tackle legal professionals designing or contributing to the promotion of avoidance schemes
The government is also seeking views on areas it intends to explore further in the future.
The consultation is aimed at anyone who may receive or provide tax advice or offers services to third parties to assist compliance with HMRC requirements. This includes accountants, tax advisers and promoters, legal professionals, insolvency practitioners, financial advisers, charities and other voluntary organisations that help people with their tax affairs. The consultation will also be open to professional and regulatory bodies, and clients, or potential clients.
The consultation will run for 6 weeks from today (26 March) to 7 May 2025.
