8 JULY 2015
Legislation will require financial intermediaries, including tax
advisers, to notify their customers about the common reporting
standard, the penalties for evasion and the opportunities to disclose.
General anti-abuse rule (GAAR) penalty
The government will consult on the detail of introducing a GAAR
penalty and consider new measures to strengthen the GAAR.
The government will consult on measures to deal with serial
avoiders who persistently enter into tax avoidance schemes that
Resources and powers to tackle evasion and avoidance
The government is providing additional resources to HMRC to
step up criminal investigations into serious and complex tax
crime; tackle non-compliance by small and mid-sized businesses,
public bodies and affluent individuals; tackle evasion, avoidance
and aggressive tax planning by large businesses; target non-
compliance by wealthy individuals; and tackle serious non-
compliance by trusts, pension schemes and non-domiciled
individuals. The government is consulting on further measures
including naming serial avoiders.
Subject to consultation, a ‘special measures’ regime will be
introduced to tackle businesses that persistently adopt highly
aggressive behaviour associated with tax planning. There will be
an extension to HMRC’s powers to acquire data from online
intermediaries and electronic payment providers to find
those operating in the hidden economy. A new digital
disclosure channel will make it simple for taxpayers
to disclose unpaid tax liabilities.