A Nelsonian eye

Key points * The price of non-disclosure. * Analysis of a tax-planning exercise. * The extent of FA 2004 s 306. * The confidentiality tests. * The prudent approach to disclosure.

IN TAXATION MAGAZINE of 19 October 2006 and 9 November 2006 there appeared in two instalments a slightly shortened version of an article 'Suggestio Falsi' which I had written for Issue 6 (2006) of Private Client Business. That article concerned the extension to the Disclosure of Tax Avoidance Scheme rules which were introduced by regulation with effect from the 1 August 2006. In that article I concluded that the effect of the new rules was that 'almost all the advice which [tax advisers] will give in relation to the prescribed taxes [income tax capital gains tax and corporation tax] will be disclosable'. I attempted to demonstrate that this was the case by showing that an...