January 26th, 2018 / Insight posted in Newsletters

Recovery Matters – Winter 2018

Beware of tax legislation changes

Ian Robert, partner at Kingston Smith & Partners LLP, welcomes you to the winter edition of Recovery Matters.

There have been numerous press reports and articles recently concerning high-profile individuals involved in tax schemes. Television presenters and professional sports and business people connected to film and EBT schemes are facing significant tax bills.

As a result, many are finding themselves unable to pay the liability and needing to seek professional advice and potentially file for bankruptcy or liquidation. But what is a tax avoidance scheme? It is a set of arrangements that try to use tax legislation to gain a tax advantage that isn’t intended by the legislation.