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HMRC proposals a risk for Island firms

Tax crackdown could provoke 'nervousness'

New proposals from the UK Treasury could make some Island firms 'nervous' to do business.

Planned measures could make financial advisors, accountants and lawyers who facilitate tax avoidance schemes liable to repay the full amount of unpaid duty.

But some have described the penalties - which are currently under consultation - as 'nasty'.

Mark Denton is the Chairman of the Association of Corporate Service Providers:

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