Looking at DOTAS, POTAS & GAAR - How many successful convictions have their been under these rules?
Within the independent Loan Charge review: Chart 1.A: Number of loan schemes used each year - dotas introduced 2004, gaar in 2013 & potas in 2014
2012-13 - 12250
2013-14 - 14500
2014-15 - 14250
2015-16 - 13750
2016-17 - 8250
2017-18 - 8750
Mere puff piece with no real bite. Certainly nothing to actually scare/stop promoters with such rich rewards for promotion of these schemes.
Spotlights, comms to tax professionals and large corporate employers do not engage nor reach scheme users. Needs to be on a lower level on a much wider scale and engagement/comms to users/promoters of schemes as soon as HMRC are aware of schemes.
Just make tax avoidance illegal. No grey areas, legal or illegal. If true offsets being used for a tax advantage then should be clearly stated/evidenced each financial year on a tax return.
The use of technology should play a huge part. Understanding a scheme then finding out who is using this scheme. Who is behind these schemes.
It's normally a handful of persons behind most of the schemes.
No. Using the game of poker as an analogy, HMRC already have far more monies than an everyday individual. With them looking at the taxpayers hand that makes a totally one sided "game". The ordinary taxpayer would be wiped out. Guilty from the outset and next no chance to prove innocence.
My experience within the Loan Charge. Tax years 2008-2009, 2009-2010 & 2010-2011 had discovery assessments opened in Jan 2013 (08-09) & Jan 2014 (09-10, 10-11).
No detail in what law had been broken nor under what legislation that the tax is due. We're now at the end of 2020, interest accruing on an unproven tax amount with HMRC not engaging.
HMRC know that they can do nothing and just the interest accrue on the debt as this will cripple a family. HMRC do nothing and "win". An individual bankrupt, no monies reclaimed, no tax payer to pay taxes due to being incapacitated to work through the mental duress.
Tuesday 6th October 2020