The Blog was listening with careful attention to Radio 4 this morning – the subject under discussion was the topical issue of the the cultural climate change in attitudes to aggressive tax planning (now more commonly and, perhaps, deliberately pejoratively referred to as Tax Avoidance).
The statistic which caught the Blog’s ear was that it is currently considered to be the case that more than half of the tax planning schemes promoted to businesses by advisers are likely to fail HMRC scrutiny.
This put the Blog in mind of PPN 04/14 and the new PQQ questions on Tax Avoidance.
There will almost certainly be businesses out there with tax timebombs ticking away and just waiting for HMRC to light the fuse with an investigation.
Could one of those businesses be a JV partner of yours of longstanding and with whom you are intending to bid over the next few years for Central Government work?
More importantly, how would you know until it is potentially too late?
Pause for thought.