The National Association of Specialist Dental Accountants and Lawyers (NASDAL), have claimed that aggressive tax avoidance scheme have been marketed at dentists inappropriately.
Last year, Graham Aaronson QC published a report on General Anti-Abuse Rule (GAAR). Following his report, the government accepted that a rule targeted at artificial and abusive tax avoidance schemes would improve the UK’s ability to tackle tax avoidance; and as such they launched a formal consultation this month on GAAR.
However, following the high profile cases of tax avoidance over the last couple of weeks, the chairman of NASDAL, Nick Ledingham, has voiced his concerns that dentists have been sold tax avoidance schemes which are unsuitable.
Mr Ledingham, said: “The vast majority of dentists pay exactly the right amount of tax and are not interested in schemes which, because they are designed to shelter income from tax, could be challenged by HMRC.”
However, he added that salesmen for the ‘more exotic schemes’ use high-pressure techniques to earn significant commissions when they recruit investors, saying that “in many instances dentists are sold schemes which are clearly unsuitable.”
As an accountant; David Jacobs offers a range of accounting, audit and taxation advice to the legal and medical professions.