The position should be calmly evaluated at an early stage in order to put an appropriate strategy in place, writes Michael Thomas KC (Pump Court Tax Chambers). Easy to say in theory, but not always so easy to execute in practice...
The first principle of the rule of law is that ‘all laws should be prospective open and clear.’ In contrast far too many regimes within the UK tax code are readily comprehensible only to a sub-group of tax experts who specialise in that particular area. Further the UK tax system far too often requires the application of rules which are not only extremely complex but also disproportionately so in relation to both the amounts at stake and to the simplicity of the commercial scenarios involved. It is a serious failing of our tax system that this disproportionate complexity positively invites errors not least because it may...
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The position should be calmly evaluated at an early stage in order to put an appropriate strategy in place, writes Michael Thomas KC (Pump Court Tax Chambers). Easy to say in theory, but not always so easy to execute in practice...
The first principle of the rule of law is that ‘all laws should be prospective open and clear.’ In contrast far too many regimes within the UK tax code are readily comprehensible only to a sub-group of tax experts who specialise in that particular area. Further the UK tax system far too often requires the application of rules which are not only extremely complex but also disproportionately so in relation to both the amounts at stake and to the simplicity of the commercial scenarios involved. It is a serious failing of our tax system that this disproportionate complexity positively invites errors not least because it may...
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:
