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Sanjay Mehta Quoted in Financial Times on Clampdown on Tax Avoidance Schemes

Firm News | April 10, 2018

Sanjay Mehta, tax partner, was quoted in the Financial Times regarding HM Revenue and Customs' crackdown on tax avoidance schemes typically employed by wealthy individuals, including asset managers and entertainers, who seek to divert UK profits offshore using complex arrangements, including offshore trusts and companies.

Sanjay commented that HMRC had been forced to take action despite the fact that Britain's existing legal framework should make it difficult for these avoidance schemes to flourish. Sanjay stated, "Existing legislation can counteract most of [these] tax avoidance schemes. However, the amount of tax at stake for some taxpayers is sufficient to motivate them to try their luck with these schemes."

He added, "At a time when HMRC faces increasing questions about its own efficiency and effectiveness, it is not surprising that the authority feels it needs to take more decisive steps to avoid wasted time and costs." ("UK Tax Authority Targets Offshore Vehicles in Crackdown on Avoidance," April 10, 2018)

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