View fine risk will deter tax avoidance enablers
A frequent critic of the Island's tax structure says he believes UK proposals aimed at penalising enablers of tax avoidance will act as an "amazing deterrent".
Richard Murphy - a chartered accountant and academic at City University - has told the BBC that he believes it was unlikely that cases would come to court, but that the threat of fines would be highly likely to prevent advisers offering advice on tax avoidance.
The consultation document was published by the UK Treasury this morning (Wed)
The government is proposing charging companies up to the entire amount of tax that wasn't paid.
At the moment only the individuals who have avoided paying the tax face punishment.
Mr Murphy says lawyers and accountants will not take the risk of selling schemes when there's a risk of a 100% fine.
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