Phil Cook: For 'tax avoidance', read 'legitimate tax mitigation'

Focus on pensions, VCTs and EIS

clock • 2 min read

The government's intermingling of terminology covering tax avoidance and tax evasion highlights the need to take extra care with any form of planning that seeks to reduce tax liabilities, warns Phil Cook

The UK finds itself facing up to greater uncertainty following the outcome of the snap general election - and it is not just limited to negotiations with the European Union. Government spending patterns will no doubt change as the minority government increases spending to keep voters and MPs of all parties on their side. Tax avoidance will remain a key area for the Chancellor to raise money over this parliament to fund any increase in expenditure. The UK already has one of the lowest gaps between anticipated tax levies and those received but the squeeze is set to continue. The intermi...

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