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Press watch: Tax avoidance, footballers and WikiLeaks

printer Mail

‘Taking advantage of complex tax laws in order to reduce the individual burden is perfectly legal and has been standard practice among the super-rich for years. But with the recession biting and the Coalition forced to make swingeing cuts in public services, the question of whether the activity is ethical has become ever more pertinent. Now with WikiLeaks preparing to name and shame wealthy individuals and organisations that have avoided tax by storing their cash in offshore bank accounts, some well known figures may be facing some uncomfortable questions about their financial affairs.’
Daily Telegraph, 18 January

‘[Football] players and their advisers will use fancy footwork to try to avoid [income tax]. The players’ latest tactic is to receive loans from their own companies, attracting a fraction of the tax liability they otherwise would. They could soon find themselves a target of the mass protest group Tax Uncut, whose aim is to highlight corporate tax avoidance.’
Sunday Times, 16 January