There is now growing disapproval from some sections of the public of the elaborate tax planning arrangements
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There is now growing disapproval from some sections of the public of the elaborate tax planning arrangements that tax advisers at some accounting firms have recommended to their clients.
These arrangements may be entirely legal but are often highly complex schemes that exploit loopholes in the legislation. Critics argue that they go against the spirit, if not the letter, of the law.
In response, successive governments have promised to crackdown on the more extreme tax planning schemes, with limited success to date. Recent public interest in the social acceptability of some of these tax planning schemes has increased debate about the ethics of the activity.
What do you think? Is it ethically acceptable for accounting firms to advise their wealthy clients to adopt complex tax planning schemes to massively reduce their tax bills, as long as those schemes are completely legal?
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