BBC News – UK’s biggest taxpayer, John Caudwell, on tax avoidance

Tax avoidance – unlike tax evasion – is perfectly legal and some wealthy individuals have used legitimate means to pay little or no tax, according to the Treasury. The way in which these high-income individuals have used the system has led to an argument about morality, but also what can be done to halt the avoidance. Accountants and commentators say this is nothing new, as many of...

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Avoidance scheme lands Abbeyland with liability

A property development company has failed in its attempt to avoid paying tax on a property sale by creating a “loss” of £1.6 million. It used a scheme that involved buying and surrendering investment bonds issued by a life assurance company. HMRC has already recovered tax, interest and penalties of £250 million from cases closely resembling the scheme used by Abbeyland Ltd. The First-tier...

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