HM Revenue & Customs has stepped up its campaign against tax avoidance, by issuing a document warning of the risks entering into contrived schemes.
The four-page leaflet entitled Tempted by Tax Avoidance? warns “anyone tempted to use a tax avoidance scheme should think very carefully about the costs, the disruption caused by having to deal with HMRC enquiries and potentially lengthy litigation”.
“There is a big difference between using tax reliefs and allowances in the way in which they are intended to be used, and trying to bend the rules to avoid tax,” it adds.