Report comment

With all due deference to Mr Baggott I think most of us recognise the difference in principle between taking advantage of a clear tax allowance (such as an ISA) and creating a financial scheme that may meet the technical definition of the legislation but only by working in a wholly artifical and unconventional (in commercial terms) way. (I accept it can be very hard to know at what point avoidance becomes 'aggressive' in this sense, which is why it is so hard to prevent).