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News - 16 February 2015

Labour pledges tax avoidance investigation

The leader of the Labour Party, Ed Miliband, has accused the Government of failing to tackle tax avoidance by "turning a blind eye" to the practice, which he says costs the nation £34bn.

Promising an "aggressive" review into Her Majesty's Revenue and Customs (HMRC) if his party wins the May general election, Mr Miliband pointed to suspicions of "sweetheart deals" with wealthy firms.

“It will shine a light on parts of our tax system that have been shrouded in secrecy under this government," he said.

His comments came at a conference in Swansea; he added: "When a few people are able to avoid paying their fair share, it threatens the fabric of the society on which we depend.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Mr Miliband said his proposed review could have full investigatory powers and support from the Treasury as well reporting directly to the Chancellor.”

But a Conservative Party spokesman said: "The culture and practices of HMRC went wrong under Labour - when top bankers paid lower tax rates than their cleaners, foreigners didn't pay capital gains tax and the richest people routinely avoided paying stamp duty.

And Tory chairman Grant Shapps has called on Mr Miliband to publish the "deed of variation" on his father's house to prove he had not taken part in "aggressive" tax avoidance

If you need any help and advice on any other tax matters, including HMRC investigations, contact Lavinia Newman, Stuart Coleman or Liz Kennett to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Brilliant with numbers   
Great with people  
Clear and precise with advice
Timely and cost effective 
In touch with issues that face our clients and
mindful of their long term strategic goals

Helping Your Business is Our Business

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