Finance Bill 2017 Clause 64 published on 8 September introduces amendments to schedule 24 of Finance Act 2007 which covers penalties for errors.
The intention of the amendments, to charge penalties where complex tax avoidance arrangements are defeated, was detailed in the 2016 consultation “Strengthening Tax Avoidance Sanctions and Deterrents”. However, the legislation as currently drafted appears to go further than this intention.
