Tighter offshore trust and tax regulation in budget says RSM
By Tom Carnegie, 14 Nov 17
A potentially misconceived public perception of offshore trusts and tax law is putting pressure on chancellor Philip Hammond to further tighten regulations in the upcoming UK budget, according to experts from consulting firm RSM.
Tax administration
In regards to pensions tax registration RMC says it is confidant the budget will look to make the HMRC tax registration regime even more effective at preventing fraudulent pension schemes.
RSM expects legislation will be included in the Finance Act 2018 that extends HMRC powers to refuse to register and de-register pension schemes.
The consultancy firms said it can also reasonably be expected that new measures and powers will be in the budget to enable HMRC to tackle the hidden economy.
Tags: Brexit | Budget | Paradise Papers | VAT | Wills And Trusts
