What is the right amount of tax?
The current media activity on "abusive tax avoidance" seems to imply that minimising tax bills is almost criminal.
Actually, tax avoidance is legal. Looking at matters practically, should a company director not take all legal steps to minimise his company’s tax liabilities?
I accept that the Treasury is in desperate need of funds and this must be shaping the debate. However, the right amount of tax is that due in accordance with laws made by Parliament. If unintended gaps and loopholes appear, then the law should be amended to correct the situation. To suggest that taxpayers should be guilted into paying more tax than is legally due is, in my opinion, nonsense.
Date: 27th March, 2012
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole