BKL tax partner David Whiscombe comments via the UK200Group on measures introduced in the Chancellor’s Budget to tackle tax evasion and avoidance, and the plans to abolish the need for tax returns.
“It’s easy enough to see how that could work for people whose only income is from employments, UK dividends and interest. It’s much less easy to see how HMRC are going to deal with property investors, traders or professionals – or indeed anyone who chooses not to have internet access.”
Generally however, Whiscombe welcomes the measures. “It would have been very tempting just before a General Election to have big handouts, but George Osborne has been quite clever. He’s mixed some well-targeted reliefs with some closing of loopholes and by stealing some of the opposition’s policies he’s made it difficult for them to criticise with much credibility. He will be thinking he’s done an effective job.”
