UK Government Budget Continues to Target Tax Avoidance

March 23, 2006

On March 23, 2006, the London office authored an Alert Memorandum entitled “UK Government Budget Continues to Target Tax Avoidance.” This five-page memorandum discusses the Budget handed down on March 22, 2006 which confirms that, following the introduction of the tax disclosure rules in the Finance Act 2004, the Government is continuing to introduce specific anti-avoidance legislation to address tax avoidance schemes which have been disclosed. The disclosure rules themselves are also to be amended, to extend their scope. This memo describes these and certain other new measures of interest.