This week's opinion

What is acceptable tax planning – indeed is there such a thing? We’ve all struggled with this over the past ten years. Major firms are wary of drawing attention to anything that might be considered a packaged scheme even if it is benign. Is talking about tax planning now so toxic that the very words cannot be uttered in polite company?

In this regard it is worth noting a recent case concerning a 72-year-old woman with dementia who lacked the legal capacity to take decisions. She was extremely wealthy with assets that were far greater than would ever be required for her care.

An application was made to the court to permit gifts to be made during her lifetime including one of £6m to her son who was the main beneficiary under her will. The avowed purpose was to save inheritance tax. If she lived at...