Thursday, 29 September 2016

Following the rules

Last week it emerged that the new Home Secretary had been involved with offshore investment funds in the past.  The report was quick to reassure us that this was not an attempt to avoid paying tax in the UK; it was simply that the regulatory regime at the time did not allow this type of fund to be set up in the UK.  So she was not avoiding UK taxes, merely avoiding UK regulations.  That, apparently, makes everything OK.

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