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Emergency Budget: comment from advisors on anti-avoidance

Every Chancellor in a new administration has the opportunity to reset our expectations and George Osborne clearly seized his opportunity on 22 June with a speech and Budget document displaying much greater openness than we’d become used to.

One key document is ‘Tax Policy Making – a new approach’. This article focuses on the avoidance aspects which formed one part of the document. The document notes that some areas of taxation have seen frequent change in an effort to counter avoidance which leads to the perception of instability in the tax system; additionally as we all recognise parts of the tax code have become too complex. It’s thus intended that a more strategic approach be taken so as to counter both these issues.

As part of this aim legislation will seek to build in the intended objectives – no doubt to aid...

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