From Revenue and Customs on the K2 tax avoidance scheme highlighted in the Times - which Jimmy Carr allegedly used to shelter £3.3m:
K2 scheme, all we can say is:
"This scheme (
K2) was already
under investigation by HMRC. If, as is alleged, it depends on the use of loans
it will not work. HMRC are looking into this. If the scheme does work
technically, HMRC will challenge it in every way available to them. Government
does not intend anyone, no matter who they are, to get away with paying less
than they should."
More generally, on tax avoidance, our comment is:
“HMRC is extremely effective at shutting down tax avoidance schemes fast and effectively. The avoidance “industry” has been seriously undermined by HMRC’s focus on tackling avoidance – preventing billions of pounds of tax being diverted from the Exchequer.
“In our 2010 spending review the Government made £917m available to us to tackle avoidance, evasion and fraud. This is being used to ensure a level playing field for all taxpayers.”