Labour vows tax planning review

Balls (pictured) told the BBC's Andrew Marr Show on 15 February he would review every area of tax law in a bit to crack down on "systemic practices" of tax avoidance, should he become chancellor. This will include the way wills can be restructured following a person's death in order to save costs such as tax or long term care fees. Currently every adult is allowed to pass their share of an inheritance to somebody else in the same way as if the transfer had been made by the deceased. Balls comments came in the wake of a large scale tax avoidance scandal involving HSBC's Swiss branch...