People keep asking me why the government's proposed General Anti-Abuse Rule won't beat tax avoidance.
I explained this relatively briefly in a submission to the House of Lords in January, here.
The General Anti-Abuse Rule may stop the most artificial of tax schemes. But when it comes to tax avoidance it has not a hope, and that's deliberate. Which is why it is so misleading of the government to claim otherwise.
What is needed, of course, is a general anti-avoidance principle. But the government won't deliver that.
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I heard you speaking at St Anthony’s College, Cambridge, in December , 2012.
Their attitude was, ‘If it’s not illegal, it’s okay.’
They seemed to be ‘morally challenged’ As if lying, running off with your best friends spouse, etc was okay, as it wasn’t illegal.