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What is Tax Avoidance?

Tax avoidance entails bending the rules of the tax system to gain a tax advantage which Parliament never intended.  It frequently requires operating within the letter but not the spirit of the law.  Your contractors should beware of ‘risk-free’ tax avoidance schemes promising to lower their tax bills for little cost, often by diverting some of the gross contract rate through a third-party company or trust in order to save tax.  The simple rule of thumb is: “If it sounds too good to be true, then it isn’t true!”.

Want to know more?  As a TEAM Member you have free access to the TEAM International Helpline for a complimentary consultation to support your business.  Either email or call 020 7477 2660.  We’re here to help you.