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HMRC is in the hot seat as anti-avoidance looks set to get tougher

In a recent report the National Audit Office (NAO) was critical of the lack of systematic monitoring of the use of tax reliefs by HMRC and the Treasury, and expressed serious concern that this creates myriad opportunities for avoidance.

Tax reliefs are an essential part of the tax system. They can be used as a mechanism to redistribute wealth, support economic growth and influence behaviour, with all taxpayers and consumers benefiting to some extent from their existence.

Go to Spear's Wealth Magazine to read the full article.

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