BKL tax partner David Whiscombe comments in The Telegraph about how the government is banking on a £9bn windfall over the next five years from a crackdown on tax avoidance, evasion and fraud.
Figures released yesterday show that the Treasury is now expecting to raise a further £1.92bn over the period from what it termed an “extension” to encompass such funds.
David Whiscombe, director of tax at accountants Berg Kaprow Lewis said: “The changes to the taxation of the ‘corporate partnership’ structures which have become increasingly common will require either a very significant increase in the tax bill or a rapid trip back to the drawing board to find compliant structures.”