ACCOUNTANCY AGE’S first-ever debate has finished with a narrow defeat for the motion that tax avoidance is an unacceptable exploitation of the tax system.
Founder of Tax Research UK, Richard Murphy, stoutly defended the motion. However, readers and commentators voted in favour of the opposition – argued by BDO tax partner Stephen Herring – by a six-point margin, leaving the result 47% – 53%.
The debate delved into the heart of the matter, asking what tax avoidance is and where the line might be drawn in order to define what is considered abusive.
Nearly a thousand votes were cast and 128 comments were made by readers as they took part in the discourse.
To look back at the debate, click here.
Research also finds that 84% of businesses believe that the government has not provided enough information about digital tax plans
A total of £16bn was lost through tax fraud last year, according to estimates released by Pinsent Masons
Rosamond McDowell looks at key changes to inheritance tax policy, which apply from April this year
Additional tax a result of compliance investigations by HMRC, but overall revenue falls