When does tax planning become tax avoidance? When does tax avoidance become tax evasion?
As big companies and HNWIs continue to make the headlines with the latest ways to avoid paying tax, it adds to the clamour to claw back more and more tax.
HMRC is expected to recover an additional £7.2 bn in unpaid tax by the start of the next decade as a result of the £800m additional funding, which is to be invested in tackling tax evasion and compliance activities.
It is also expected to triple the number of criminal prosecutions it brings in relation to serious and complex tax crime, to 100 per year within five years.
Where does this leave your business? Are your clients paying the correct taxes in the correct way?