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Consultation on termination.
Readers of Taxation will be well aware of the government’s clampdown on tax avoidance and many although not all may support that move. I do not think that the true scale of the government’s ambition in limiting tax planning opportunities has yet been fully appreciated. Consider this extract from the recent consultation on termination payments:
“The tax and National Insurance contributions treatment must be fair so that those who are better paid and better advised (because they are able to afford to pay for advice) do not receive a more favourable tax and National Insurance contributions treatment than those who are lower paid.”
That takes us in a wholly new direction. I am a great supporter of the Office of Tax Simplification and will always argue the case for greater simplification in the day-to-day...
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