Helen Lethaby takes stock of the changes which have fundamentally changed the rules of engagement between the financial sector and HMRC over the past few years, looking in particular at the impact of the banking code of practice and the GAAR on the behaviour of taxpayers, HMRC and the courts
This is a little sadly my last ‘Tax and the City’ briefing. It has been suggested that rather than focus on this month’s developments affecting the City (there isn’t a great deal to report actually) I might share some reflections on the changes since I began writing the article in February 2011.
Banker bashing has of course become a national sport since the financial crisis and the tax blows have been raining down as thick and fast...
