Introduction to UK Tax System (2) (Essential Reading)

Question 1

What does tax evasion consist of? (suppressing)

Answer 1

Suppressing information to which they are entitled

Question 2

What does tax evasion consist of? (false)

Answer 2

Providing them with deliberately false information

Question 3

Is tax evasion illegal?

Answer 3

Yes

Question 4

What is tax avoidance?

Answer 4

Any legal method of reducing your tax burden

Question 5

What does HMRC seek to mend?

Answer 5

Loopholes in the law as they become aware of them

Question 6

Where are there disclosure obligations?

Answer 6

Promoters of certain tax avoidance schemes, and on taxpayers to provide details to HMRC of any such schemes used by the taxpayer

Question 7

The use of avoidance schemes?

Answer 7

Enables HMRC to introduce anti-avoidance measures at the earliest opportunity