Another Non Starter For Labour?

[ToraToraTora]

http://www.bbc.co.uk/news/uk-politics-30043020
How are hey going to decide what avoidance measures are "aggressive"? Avoidance is legal, I think they need to target evasion.

[New Judge]

They will decide according to their own dogma, 3Ts.

Anybody who has a few bob and would like to keep as much of it as possible will be seen as "aggressive". Anybody who hasn't and would like be treated to as much of other people's money as possible will be seen as "victims".

Cash will flow from the former group to the latter in ever increasing quantities and the country will return to the "tax and spend" policies which almost brought it to its knees not so very long ago.

[SlackAlice]

All smoke and mirrors in my opinion.

Only way to correct these situations arising is by 'plugging' the loop holes by statute law.

Nothing wrong with Tax avoidance, we all do it, majority of us completely legally.

[factor-fiction]

It's difficult to know where to draw the line. Huge numbers use tax avoidance of some sort- using ISAs, putting savings in the names of the children/lower earning spouse, taking advantage of tax relief on pension contributions, taking a tax free lump sum from their pension pot and then possibly recycling it into another pension fund, paying cash to traders....
I can remember chancellors over the last 40 years promising to clamp down on tax avoidance but the tax accountants/lawyers are always a step ahead

[ToraToraTora]

I agree close the loop holes with proper statute. This just seems like a subjective right to hunt who's being a bit clever with their tax affairs.

[THECORBYLOON]

They are using the laws introduced by the Tories but they plan to increase the fines.

[bazwillrun]

Big business will have idiots like Balls for breakfast....he hasnt got a chance, theyll destroy him if needs be and they feel threatened

[Peter Pedant]

Oh come on boys and girls

everyone knows it is lawful for a tax payer to order his affairs to minimise tax

The unlawful bits are evasion. The line is drawn by the government.
Everyone agree that the rules have to clear - um yeah.

The real threat is not going about with a loop hole plugger plugging loop holes as they arise - but GAAR

General anti-avoidance rules. New Zealand has them. Completely different ball game.

[Peter Pedant]

oops sorry GAAR is here to stay.

[Peter Pedant]

GAAR is much more of the flavour of .... ' if the taxman doesnt like it - you're screwed'

rather than "section so and so says ......

[ToraToraTora]

so as I said above, if an official thinks you are being a bit clever you are nailed! I cannot see how something so subjective can be enforced.