Tony Beare comments on the draft guidance in relation to the meaning of ‘the intentions of Parliament’ and on the draft legislation dealing with breaches of the code.
The past few weeks have seen some interesting developments in relation to the topical subject of taxpayer behaviour.
In addition to the legal opinion from Farrer & Co to the effect that UK company directors have no fiduciary duty to their shareholders to avoid tax – which was the subject of an article by my partner William Underhill (see Tax and directors’ fiduciary duties) draft guidance in relation to the banking code of practice (‘the code’) was circulated along with a revised draft of the provisions which are to be included in the Finance Act 2014 on naming banks which have not complied...
