recently a ‘big four’ tax partner commenting on the need for tax simplification made the following statement:”there has been much debate about the fairness and effectiveness of the united kingdom’s taxation system particularly as to the different rates of taxation paid. for example, individuals pay rates of tax varying fro 10% to 40% on capital assets. however, capital taxes only raised £6 billion in the 12/13 tax year compared to over £100 billion each for VAT and income tax”
REQUIRED–
50 words introduction
1- explained what you understand is meant by a ‘fair and effective ‘ tax system. (650 words)
2- discuss, giving examples, the differences between tax evasion and tax avoidance and discuss starbucks recent offer to pay £20 million tax over the next two years. (600 words)
3- a client of yours, MR Harrison, informs you he has just won £3 million on the national lottery. aged 70, he is concerned about his inheritance tax liability were he to die. he has been married for 45 years and has 2 children and 4 grandchildren. advise him of ways of minimising his inheritance tax bill. (600 words)

REPORT MUST BE WORD-PROCESSED. AND PRACTICAL ANSWERS