Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

Business

Employment trade body calls for tax promoters to be blocked from supply chains

The Association of Professional Staffing Companies (APSCo) and APSCo OutSource, have raised concerns over plans to implement tougher consequences for promoters of tax avoidance in its latest HMRC consultation submission.

APSCo warned that planned measures to introduce a focused criminal offence for the continued promotion of a scheme covered by a Stop Notice won’t have the required impact, but did agree that disqualification proceedings against directors of those promoting tax avoidance schemes will help tackle the issue. The trade body has, however, also called for promoters of these schemes to be blocked from supply chains in order to drive real change.

Tania Bowers, Global Public Policy Director at APSCo comments: “While we welcome any plans to stamp out tax avoidance schemes in the recruitment supply chain, we believe that the current proposals are missing a few key elements, namely a focus on blocking promoters from the supply chain altogether. Unless the entire supply chain is notified then there is no way to stop the promoter offering adjunctive services, including legitimate activity. The communication needs to be widely publicised so that any party in a supply chain supplying a worker could undertake a simple compliance check. The umbrella consultation now open with HMRC, HMT and DBT is important in this regard in terms of supply chain responsibilities.

“The proposals around enforcing criminal offences for the continued promotion of a scheme that is covered by a Stop Notice is unlikely to have a significant impact for a number of reasons. In the first instance, those who are engaged in this activity are unlikely to be deterred by this unless there is well-publicised enforcement. Secondly, it is highly likely that the speed of enforcement will also hinder success, with activity likely to have ceased by the time of enforcement of the criminal offence. With many promoters also likely to be operating overseas, cooperation with international tax authorities is also going to be required, but will create an additional layer of complexity.”

Read more:
Employment trade body calls for tax promoters to be blocked from supply chains

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    World News

    BEIJING — China landed an uncrewed spacecraft on the far side of the moon on Sunday, overcoming a key hurdle in its landmark mission...

    World News

    LONDON — Talks aimed at reaching a global agreement on how to better fight pandemics will be concluded by 2025 or earlier if possible,...

    World News

    SINGAPORE — Ukrainian President Volodmyr Zelensky’s unscheduled appearance at Asia’s biggest security conference dominated proceedings on Sunday after China’s defense chief slammed “separatists” in...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 rightdecisionnow.com | All Rights Reserved