'The new regime calling for early disclosure of tax schemes is now set to fail,' said O'Carroll. 'The entire tax avoidance industry will now move to the lawyers...It is completely unacceptable that the application of the regime depends upon whether tax advisers are practising as part of a law firm or as part of an accounting or other firm. This is both irrational and anti-competitive.'
O'Carroll has called for a delay in the start of the regime until there is a level playing field.
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