The Mudcat Café TM
Thread #144738   Message #3348134
Posted By: Richard Bridge
08-May-12 - 07:23 AM
Thread Name: BS: Welcome back Boris
Subject: RE: BS: Welcome back Boris
What I think you would do well to focus on Bonzo is artificiality. It is a somewhat elusive concept, but it is very odd that Osborne promised to come down "like a ton of bricks" on certain things (in fact only really stamp duty), missed the boat entirely by failing to account for long leases, and utterly failed to reverse the principle in IRC -v- Westminster.   Of course some say we should reverse Saloman -v- Saloman, and that would stop the use of companies for tax planning as such.

Ken's arrangements were AFAIK not in the least artificial although I don't immediately see why they were not caught by close company principles. Maybe deemed distributions disappeared while I was not looking.

What, I think, we need is a truly general anti-avoidance principle, and I have explained my views in more detail before.

Part of the problem is that the press is largely more than somewhat right of centre, and it became quite difficult to get to any grips with what Ken actually did in the face of wholly ignorant flak like Gilligan's - and in the face of outbursts like Boris's comment "fucking lies".