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New Tax Offense Sparks Debate | Leeds News
The government is set to introduce a new tax offense targeting those who knowingly take reckless risks with their tax returns—even without outright fraud—potentially leading to up to two years in prison or unlimited fines. Aimed at direct taxes like Income and Capital Gains Tax, it mirrors existing VAT rules but sparks debate: the ACCA questions its necessity, arguing HMRC already has sufficient tools and warns of unclear guidance that could confuse advisors and taxpayers. With consultations closed, the final decision hinges on whether lawmakers prioritize closing loopholes—or revisiting…
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