Tax schemes: What do you tell clients?
The recent negative media attention on tax avoidance and tax schemes has changed the landscape for accountants and tax advisers.
There are fewer tax schemes around but there remain two distinct stances that accountants tend to take:
- “If it’s legal then it’s fair game. The government should close the loopholes if they don’t want them exploited.”
- “I’m uncomfortable with this concept and will tell my clients it’s not a good idea.”
Some accountants will continue to advise a client who wishes to proceed with a scheme, while others will refuse to have anything to do with what are typically considered to be abusive avoidance schemes.
A few weeks ago I posed a question in AccountingWeb’s ‘any answers’ in preparation for...