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We Need to Strike a Sensible Balance

Richard Collier-Keywood UK head of tax at PricewaterhouseCoopers looks at the Pre-Budget Report's (PBR) anti-avoidance measures and argues that they need to be put in a wider context
I was recently invited to a reception at HM Revenue & Customs (HMRC) where we had speeches from Ivan Lewis and David Varney both rightly celebrating the progress that HMRC had made in just over seven months of life.
On departing we collected a booklet headed 'There is a lot to do' which set out the key aims of HMRC. One aim is to close the tax gap with the following paragraph that all readers of The Tax Journal should consider:
'With change like the new rules requesting disclosure of tax avoidance schemes...

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