Tax avoidance is not as widespread as people might think, HM Revenue & Customs said as it announced that scheme promoters responsible for misleading advertising will face new sanctions.
An enforcement notice published jointly by HMRC and the United Kingdom’s Advertising Standards Authority requires promoters to be “clear about the potential consequences of tax avoidance” in any online adverts, HMRC said in a November 26 release. Promoters who do not comply with the regulator’s advertising code may have paid adverts removed from search engines, and follow-up compliance action can include referral to trading standards officers, HMRC added.
In a separate report HMRC said it has heard “the very real public anger” about the people who promote contrived avoidance schemes.
My news story for Tax Notes, November 30 (paywall):