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Moral outrage forces richest taxpayers to avoid tax schemes

The UK’s wealthiest taxpayers are becoming more wary about using complex tax planning and contrived tax avoidance schemes, after public concerns about moral behaviour, but still view inheritance tax (IHT) as a punitive ‘double tax’. 

Moral outrage forces richest taxpayers to avoid tax schemes
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The independent IFF research classed wealthy individuals as those with an income of over £200,000 or assets/wealth of over £2m, subdivided into ‘affluent’, with net wealth under £10m, and high net worth individuals (HNWI) with over £10m, and was commissioned by HMRC to understand more about the factors that shape their behaviour and how they go about planning and structuring their tax affairs.

Read more at the Accountancy Daily

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