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HMRC Announces Appointment of New Tax Watchdog

HMRC has announced that it will be appointing a new tax watchdog to oversee large tax settlements made between HMRC and big businesses. The announcement follows criticism by MPs on the Public Accounts Committee that large corporates were receiving favourable treatment from HMRC over tax claims. The news follows moves by the Government to retrospectively close two tax avoidance schemes which, it claims, Barclays Bank used to try to avoid £500m in tax. HM Treasury’s press release on the subject is here. Speak to Susan Perry, Senior Associate in Druces’ Corporate & Commercial and Tax teams for more information

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