Law360 (March 24, 2021, 1:11 PM EDT) -- The British tax authority — HM Revenue & Customs — is seeking new powers to clamp down on unscrupulous promoters of tax avoidance schemes, including the ability to shut down companies and name entities involved in the promotion of schemes.
The proposals are contained in a report published Tuesday that asked for the public's views on the issue. The tax authority is seeking new power to present "winding-up petitions" — requests for businesses to cease operations — to court. In addition, it wishes to tighten the rules around company director disqualifications related to tax avoidance. HMRC also wants to be able to "name...
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