Anti Avoidance Measures

Anti Avoidance Measures

Chancellor Continues His Drive Against “Artificial Manipulation.” There are a range of measures contained within the Budget Notes (dating back to 2010) above and beyond the increases to the small companies’ rate of corporation tax (Latest figures from 2013). Some of the changes proposed include a rule to counter tax schemes relating to creating and using artificial capital losses. There are also measures restricting tax relief which employers can claim in relation to contributions to employee benefit trusts thus restricting the relief to the levels actually paid to employees in taxable forms. Changes to HMRC’s Criminal Investigation Powers Legislation will be introduced to provide consistent powers and safeguards for all HM Revenue & Custom’s (HMRC) crimin... »