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Tax advisers to face the walk of shame under new tax plans

Tax advisers that like to push overly aggressive tax avoidance schemes, beware: Her Majesty’s Revenue & Customs are ready to shame your behaviour publicly.

Back in March, George Osborne’s Budget Statement contained some very specific plans to rein in anyone using a tax planning scheme that makes it a little bit too easy to avoid paying your fair share. Following up on these promises, the government has launched a consultation to allow the taxman to publicly call out anyone engaging in the kinds of behaviours that could expose them to being accused of such dastardly activity – and along with being publicly shamed, the firm or individual could be subject to fines as high as £1 million, with an additional £10,000 penalty for every day that goes by without remedying the matter.

HMRC has hopes that hanging anyone who promotes such high-risk schemes out to dry will make it easier for people to choose a legitimate and reputable tax adviser. It will provide the self-employed such as contractors a better choice when it comes down to selecting tax advisers that aren’t going to land them in hot water with the taxman.

Honestly I think it’s a fantastic idea to make it very public when someone or some firm gets caught acting the fool. There’s altogether too much of this mentality that ‘it’s not illegal if you don’t get caught’ that all these cutthroat blokes are focusing on; it’s exactly this sort of behaviour that got us into the current predicament we’re all facing financially. Greedy financial types ended up letting the markets get completely out of control in order to line their own pockets only to be surprised when the whole house of cards came tumbling down, and now we’ve all got to face the consequences of their high-risk gambling as a result and I for one am completely tired of it.

I can only hope that this new proposal goes through and gets pushed into law as quickly as possible, and that it begins to catch people left and right. I look forward to giggling with mad glee upon the publication of the first list of bastards who thought they could get one over on the taxpayer by funneling their money overseas or some other such nonsense, and with any luck this will help flood the taxman’s coffers with some much needed revenue so we can stop cutting more important government programmes already! It will be entertaining at the very least, don’t you think?

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