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ARTICLE · 06 NOVEMBER 2014

Tax Avoidance Schemes: The Balance Between Avoidance And Evasion

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Almost on a daily basis hitherto much loved pop stars and television personalities have been ‘ousted’ for investing in a tax avoidance scheme.

United KingdomTax
Tessa Lorimer
Tessa Lorimer
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Tax avoidance schemes have been plastered all over the press of late. Almost on a daily basis hither to much loved pop stars and television personalities have been ‘ousted’ for investing in a tax avoidance scheme. Taxpayers who have been used to having complete confidentiality regarding all things tax related are suddenly discovering that their tax planning is subject to public scrutiny in both the press and through social media. And of course it’s not only individuals which have come under the tax spotlight, high profile corporations have been castigated by the public accounts committee. HM Revenue & Customs (HMRC) estimates that approximately 43,000 taxpayers and 10,000 companies are currently in dispute with HMRC because of marketed tax avoidance schemes.

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