Goodman Jones Autumn Budget Summary 2021

27 October 2021 l BUDGET Clamping down on promoters of tax avoidance The government will introduce further measures to clamp down on promoters of tax avoidance. The package of measures, which will take effect following Royal Assent, will: • allow HMRC to freeze a promoter’s assets so that they pay the penalties they are liable for; • deter offshore promoters by introducing a new penalty on the UK entities that support them; • provide for the closing down of companies and partnerships that promote tax avoidance schemes; and • support taxpayers to steer clear of avoidance schemes or exit avoidance schemes quickly, by sharing more information on promoters and their schemes. Tax administration and maintenance announcements A further set of tax administration and maintenance announcements will be issued later in the autumn. This follows a similar set of announcements published in the Command Paper Tax policies and consultations (Spring 2021) . 15