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Tax avoidance involving profit fragmentation - Law Society response
The Law Society’s Income Tax Committee has responded to HMRC’s consultation on tax avoidance involving profit fragmentation.
The consultation proposes that additional anti-avoidance legislation be introduced in the 2018/19 Finance Bill.
Given the length and complexity of the UK tax code, the Law Society urges the government not to add to it - unless there is a clear need to do so. In our view, additional anti-avoidance legislation is not needed in this case.