Joint and several liability of company directors: Finance Bill 2019-21, clauses 97 and Schedule 12, ICAEW REP 18/20, 20th April 2020

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In Folder: ICAEW Representations, 2020

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Joint and several liability of company directors: Finance Bill 2019-21, clauses 97 and Schedule 12, ICAEW REP 18/20, 20th April 2020

ICAEW Representation 18/20 presenting the text of a briefing for Members of Parliament on clause 97 and Schedule 12 of the Finance Bill 2019-21 concerning joint and several liability of company directors; outlines a new HMRC power to issue notices making individuals jointly and severally liable where tax avoidance, evasion, repeated insolvency or facilitation penalties are involved and insolvency is expected; highlights concerns about unintended consequences, impact on enterprise and restructuring, breadth of liability for connected individuals, and extended rights of review and appeal; recommends withdrawing the clause and Schedule and undertaking further consultation. Prepared by the Tax Faculty and Business Law. (AI generated description)

Dublin Core Metadata

title: Joint and several liability of company directors: Finance Bill 2019-21, clauses 97 and Schedule 12, ICAEW REP 18/20, 20th April 2020

creator: Tax Faculty

creator: Business Law

creator: ICAEW

subject: Taxation

subject: Corporate governance

subject: Directors duties

subject: Board responsibilities

subject: Tax compliance

subject: Tax evasion

subject: Insolvency

description: ICAEW Representation 18/20 presenting the text of a briefing for Members of Parliament on clause 97 and Schedule 12 of the Finance Bill 2019-21 concerning joint and several liability of company directors; outlines a new HMRC power to issue notices making individuals jointly and severally liable where tax avoidance, evasion, repeated insolvency or facilitation penalties are involved and insolvency is expected; highlights concerns about unintended consequences, impact on enterprise and restructuring, breadth of liability for connected individuals, and extended rights of review and appeal; recommends withdrawing the clause and Schedule and undertaking further consultation. Prepared by the Tax Faculty and Business Law. (AI generated description)

publisher: ICAEW

date: 2020-04-20

type: Text

format: pdf

identifier: ICAEW REP 18/20

language: en

relation: ICAEW Representation

ICAEW Metadata

Content Type: Representation

Notes: MEP NK

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