Philip Spencer looks at tax mitigation and the ways which HMRC are seeking to counter tax planning in the real estate sector
The term ‘tax avoidance’ has particularly negative connotations these days. It is linked to failed tax schemes public protest and HMRC purges.
In HM Treasury’s document Tackling Tax Avoidance published earlier this year there is the clear intent to target those situations where taxpayers use the law to reduce tax liabilities in a way that Parliament never intended.
However there remains the fundamental principle that each person is entitled to arrange their affairs in a manner that does not expose them to unnecessary tax liabilities. If we take the real estate sector possible tax leakage does impact on the viability of a property purchase or development project.
It is not surprising therefore that...
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Philip Spencer looks at tax mitigation and the ways which HMRC are seeking to counter tax planning in the real estate sector
The term ‘tax avoidance’ has particularly negative connotations these days. It is linked to failed tax schemes public protest and HMRC purges.
In HM Treasury’s document Tackling Tax Avoidance published earlier this year there is the clear intent to target those situations where taxpayers use the law to reduce tax liabilities in a way that Parliament never intended.
However there remains the fundamental principle that each person is entitled to arrange their affairs in a manner that does not expose them to unnecessary tax liabilities. If we take the real estate sector possible tax leakage does impact on the viability of a property purchase or development project.
It is not surprising therefore that...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
