Hmm… won’t the rich simply switch from tax avoidance to UK avoidance altogether?
maybe, but unless you’re a believer in trickle-down economics, what do we lose as a society if they do?
the measures covered by this article aren’t about people trying to reduce their tax bill though, they’re about stopping dodgy tax avoidance schemes: “There is a mini-industry of creating tax avoidance schemes which have no prospect of success.”
If I understand the article right, these dodgy schemes are mostly designed to make their promoters money from fees, because when they are overturned in court, the taxes people have improperly avoided will have to be paid. However the people who ran the scheme will have already taken lots of money in fees.
Tricky to pack their mansions, rental properties, our debt etc when they eventually go
Always interesting to see when the speech is over and the fine detail starts filtering through what is actually included, and you know what, this sounds actually very good. More of this please.
It’s great news for agency workers pushed into these schemes unwittingly or otherwise.
I’m not seeing anything about closing the tax loopholes that matter the most though, the ones that allow Amazon et al to redirect profit to an offshore company and thus hide how much tax they owe.
In fact, Labour have mooted the idea of cutting the digital services tax designed to target these companies specifically. So yeah, not celebrating anything considering who they’re shafting to fund the aforementioned.
Actually sounds great. Why isn’t this being reported more widely?
