Thursday May 28, 2020

If a tax dodge looks too good to be true, it probably is

Governments guard PAYE tax jealously – but the British Revenue’s clampdown on a long-running avoidance scheme is so draconian that it has lost political support

10th February, 2019

Governments love PAYE. Not only is the yield predictable, but PAYE tax hits the coffers in a steady stream during the year. It doesn’t come in in big unpredictable lumps like corporation tax payments or income tax paid by the self-employed. As last week’s exchequer returns showed, it is a major component of the total tax take (in Ireland’s case about 25 per cent of the total) and therefore must be jealously guarded....

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