Tuesday 10 Apr 2018 @ 15:10
HM Revenue and Customs
Printable version

Tax avoidance involving profit fragmentation

Summary

HMRC is inviting views on proposals to tackle avoidance schemes where profits of trades or professions are moved outside the UK tax charge.

This consultation closes at: 11:45pm on 8 June 2018

Consultation description

We are inviting views on proposals to tackle tax avoidance schemes designed to move UK profits outside the charge of UK tax, often using offshore trusts and companies.

The new legislation, which we intend to take effect in April 2019, would bring these profits within the UK tax charge and require notification of the arrangements to HMRC and earlier payment of tax.

We would welcome your comments on the proposals, to assist in the design of the legislation.

Documents

Tax Avoidance involving Profit Fragmentation - consultation document PDF, 580KB, 29 pages

Ways to respond

Email to: profitfragmentation.mailbox@hmrc.gsi.gov.uk

Write to:

Profit Fragmentation Consultation, 
HM Revenue and Customs, 
Specialist Policy Team, 
Room 3C/04, 
100 Parliament Street, 
London 
SW1A 2BQ

 

Channel website: https://www.gov.uk/government/organisations/hm-revenue-customs

Original article link: https://www.gov.uk/government/consultations/tax-avoidance-involving-profit-fragmentation

Share this article

Latest News from
HM Revenue and Customs

What the Child Benefit rate rise means for you

02/04/2024 12:05:00

Child Benefit rates go up on 6 April 2024.

HMRC helpline changes halted

22/03/2024 11:20:00

Changes to HM Revenue and Customs’ (HMRC) helpline services are being halted while it considers how best to help taxpayers harness online services.

HMRC encourages customers to interact online with changes to its Self Assessment, PAYE and VAT services

19/03/2024 15:20:00

Changes to helpline services will become a permanent feature after being successfully trialled.

Customs Declaration Service is open for all export migration

19/03/2024 11:10:00

HMRC updates on the implementation of the Customs Declaration Service and the transition from the Customs Handling of Import and Export Freight.

Hop to it: save on Easter childcare costs with Tax-Free Childcare

12/03/2024 15:10:00

Working families can save up to £2,000 a year per child on their childcare bills with Tax-Free Childcare

March is top month for Marriage Allowance claims

27/02/2024 11:10:00

Marriage Allowance claims rose before the start of the new tax year.

Update on HMRC Double Cab Pick Up Guidance

20/02/2024 11:12:00

HMRC has updated its guidance on the tax treatment of Double Cab Pick Ups.

Update on HMRC Double Cab Pick Up Guidance

20/02/2024 11:10:00

HMRC has updated its guidance on the tax treatment of Double Cab Pick Ups.

Tax credits recipients will receive Cost of Living Payment from today

16/02/2024 14:22:00

Eligible tax credits only customers will automatically receive a Cost of Living payment.