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Wasteful, not immoral

There is nothing wrong with having efficient tax affairs, as there is no such thing as a 'correct' amount of tax that must be paid by any tax payer

6 May 2016

With the recent release of the Panama Papers, there has been a great deal of noise (from politicians and political journalists) on the subject of tax avoidance and financial fairness.

As financial adviser I find it frustrating, although not surprising, that so much of the public comment is financially illiterate. That aside however, it's hard to defend many of the more 'aggressive' tax strategies. I'd be the first to agree that whatever the strict legal position, many such schemes, to put it bluntly, are unfair - in sporting terms, they are akin to cheating.

But inevitably, because of the lack of understanding, this condemnation spills over where it shouldn't - and I think that politicians and political journalists have been too quick to condemn many forms of perfectly legitimate tax planning.

The phrase 'tax avoidance&...

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