Schedule 21 - Approved share plans and schemes

Part of Finance Bill – in a Public Bill Committee at 10:30 am on 22 May 2003.

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Photo of Stephen O'Brien Stephen O'Brien Shadow Paymaster General 10:30, 22 May 2003

The Paymaster General made that point clear when she framed her introductory remarks to the schedule on anti-avoidance. Some of those outside the Committee who are following our proceedings—there are more of them than I had imagined—have wondered whether the Government truly recognise that there are three categories: tax planning, tax avoidance and tax evasion. All of us abhor and would condemn tax evasion. Tax planning is perfectly legitimate and is expected. Tax avoidance is not illegal, and, at its very worst, it involves finding ways in which to exploit loopholes. Can the Paymaster General confirm that she does not regard tax avoidance as being illegal but as a continuing debate between the taxpayer and the Government?