HMRC To Aggressively Pursue Tax Avoidance Promoters

Law360 (March 20, 2020, 3:13 PM EDT) -- The British tax authority has said it will aggressively pursue promoters of tax avoidance schemes and focus more on collecting unpaid income tax from practices that masked income as loans.

HM Revenue & Customs said Thursday it would use its full range of criminal powers and civil sanctions on those who fraudulently design, promote or market tax avoidance schemes. 

Criminal powers that HMRC possess include the ability to bring prosecutions. The maximum U.K. penalty for tax fraud is an unlimited fine and seven years in prison.

HMRC last year said it would begin levying the so-called loan charge on individuals who...

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