Orange & Gold Blog

Would you follow your accountant's advice 2?

In a Taxation Magazine survey published in March 2013, respondents were asked to distinguish between evasion and avoidance by answering a number of hypothetical questions, such as:

As you have formed a company, your accountant now says that, as you are married, if you transfer half the shares to your spouse you will be able to further reduce you tax bill, as half the incomefrom the company can go to them even though they do not work in the business. The Revenue lost a challenge on this in the courts some years ago, and you completely trust your spouse. Would you follow your accountant's advice?

88% YES               12% NO