New tax evasion penalties have come into force in 2017. The penalties are aimed at advisers who try and help clients to avoid paying tax. The new rules, that have been setup by the government to help stop the tax system being abused, can penalise bankers, accountants, bookkeepers, lawyers and financial advisers with fines up to a maximum of £3,000. The penalties were first announced by George Osborne when he was chancellor and Theresa May stated during her her bid to become Prime Minister she would activley pursue businesses over tax avoidance. During her campaign she mentioned big companies such as Goodle, Amazon and Starbucks in a speech she made, saying businesses "…have a duty to put something back.." and they "…you have a responsibility to pay your taxes…”.

For further details please read the full article at theguardian.com.

Helen Preece
Helen Preece

Helen Preece runs The Financial Management Centre in Brighton. Helen is a CIMA qualified accountant with over 15 years of accountancy and bookkeeping experience. Having previously worked in audit, practice and industry she feels she has varied experience that can be applied to all clients. Helen understands that for small business the finance and bookkeeping side is not normally the first thing on the business owners ‘To Do’ list.