Quote:
Originally Posted by dude69
No, a tax avoidance scheme is simply a scheme designed to reduce tax. Such a scheme may or may not be valid under UK law
Tax evasion is simply not paying tax at all just because you don't want to.
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No. Avoidance is reducing tax by any method not explicitly prohibited by statute. Evasion is doing it by any method that is prohibited by statute. Simple, really.
Snag is, the typical IOM scheme is prohibited by statue, except some people didn't spot the detail, or chose to either ignore or reinterpret it