Tax policy confusion ‘hugely damaging’, say City lawyers
From The Law Society gazette:
“A ‘disturbing pattern’ is emerging where legislation is introduced with ‘minimal or ineffective’ consultation.
Concerns are raised that tax policymakers are ‘insufficiently conscious’ of the importance of the rule of law and over-reliant on guidance. The current government, it adds, has legislated retrospectively against certain types of stamp duty land tax avoidance schemes even though they had been known to HMRC for some time.
‘We do not consider that this is acceptable. Businesses must know that the law in place when transactions take place will be the law that applies to them’.
‘This principle is either absolute or it is nothing – once it has been broken once, further breaches are only questions of degree,‘ the committee says.“
(…and as it happens, the principle has been broken once already)