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The New Disclosure Rules

Heather Self Group Tax Director of Scottish Power plc gives us her opinion on the new disclosure rules
Tax planning is often described as a game — perhaps four-dimensional chess or to use a more modern idiom a game of Quidditch particularly in relation to anti-avoidance rules: identifying how the House of Lords will rule on a particular transaction is about as easy as trying to catch the elusive Golden Snitch. With the new disclosure rules the Inland Revenue and Customs appear to have added at least a couple of extra Bludgers to their teams — or perhaps to have tilted the pitch significantly against the taxpayer.
But are the new rules really so unreasonable? The initial furore was generated as usual by complex...

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