HMRC consultation outcome: Tax abuse and insolvency

Released 7 November 2018

HMRC have published the outcome to the consultation on how to tackle taxpayers who abuse the insolvency regime to avoid or evade tax liabilities.

The consultation Tax Abuse and Insolvency: A Discussion Document, which ran from 11 April 2018 to 20 June 2018, sought views on how to tackle the small minority of taxpayers who abuse the insolvency regime to try to avoid or evade their tax liabilities. The consultation sought to target only corporate bodies that exploit insolvency and not companies that enter insolvency for genuine commercial reasons. The response document confirms that the Government will legislate in 2019-20 to allow HMRC to make directors and other persons involved in company tax avoidance, evasion or phoenixism jointly and severally liable for tax liabilities that arise from those activities where the company becomes insolvent.

For more information, see Consultation outcome Tax abuse and insolvency.

0
Be the first to vote
Subscribe