Time’s up for Tax Avoidance

Chloe Smith, MP for Norwich North, has welcomed the Chancellor’s announcement of a new clampdown on tax dodging.

 

Speaking about the announcement, Chloe said:

 

“Time and again I agree with constituents who say they are fed up with big companies and wealthy individuals not coughing up their fair share of tax.

 

“I welcome the announcement of new penalties to tackle abuse. The public expect us to take action to stop this behaviour and that’s exactly what this government is doing.”

 

Measures announced in the Autumn Statement include action on disguised remuneration schemes and stamp duty avoidance, along with action to stop the abuse of the intangible fixed assets regime and capital allowances.

 

Over £800 million of efficiency savings by HMRC is being reinvested to tackle tax evasion and avoidance.