June 24th, 2011

Avoidance v Evasion

No one particularly likes paying tax – and people will go to great lengths not to. But what’s the difference between tax evasion and tax avoidance. The media often use the terms as being interchangeable but there is a real and straightforward difference. Evasion is illegal, avoidance isn’t.

Tax avoidance is arranging your financial affairs in a way that keeps your tax bill down. It could be as simple, common sense stuff right the way through to complex tax structures.  Whilst there is nothing illegal about tax avoidance companies and individuals, like Bono, who use complex and artificial structures can find themselves in the spotlight for all the wrong reasons.

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HMRC Tax avoidance

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Director

John manages a wide portfolio of owner managed businesses and oversees the smooth operation of the firm’s payroll department.

After obtaining his degree in mathematics from the University of Liverpool, John joined Jonathan Ford & Co in 2004 and qualified as a chartered accountant four years later. John likes to keep abreast of developments in tax and accounting and is responsible for the mentoring of junior staff.

Outside of work, John enjoys keeping fit and is a Liverpool FC season ticket holder.

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