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Since 1927 the leading authority on tax law, practice and administration


23 March 2006
Issue: 4050 / Categories: Forum & Feedback
Correspondence from readers on topical subjects

No tax please

Writing about our programme 'No Tax Please We're Rich!' (Taxation 9 March 2006 page 580) Mike Truman accuses us of ignoring the savings made by small self-employed taxpayers trading through companies rather than as individuals because it didn't fit 'the message of the programme'.
In drawing the difficult distinction between tax planning and tax avoidance we put 'trading through companies' firmly in the planning category in a clearly different league from commodity-based PIK schemes aggressive 'lend and forget' strategies or wholly artificial 'loss creation' devices.
That's why we didn't cover the 'trading through companies' strategy. I believe most tax professionals would draw a similar distinction.
Nor did our programme have a 'message' as Mr Truman asserts. It certainly had a mission: to set out for a wide general audience some of the more esoteric...

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