Is paying tax the right thing to do?

Key points

• The new chancellor has ruled out increases to income tax National Insurance and VAT in the next Budget but there will be tax rises – capital gains tax and inheritance tax are the most likely.
• Given today’s globally mobile world particularly at the higher ends of the income/net assets scale the effect of being able to choose whether or not to pay tax becomes more keenly felt.

There’s nothing like a controversial statement to get the conversation started and as a law-abiding responsible tax adviser paying the right amount of tax is always going to be the right thing to do surely? As we approach the most hotly anticipated Budget for some years not necessarily in a looking-forward-to-it kind of way the element of choice in tax compliance and equity in tax system design is being brought...