A cunning plan?
Blackadder’s assistant Baldrick constantly suggested cunning plans which were doomed to failure. Plans for avoiding tax are usually better thought out, but anyone using one should be aware that HMRC are likely to argue that they don’t work. You have to weigh the possible tax savings against the possible inconvenience and expense of arguing about them, and the chance of having to pay the tax anyway. HMRC will be celebrating victories in the Tribunal against a couple of cunning plans to create tax-deductible losses which didn’t reflect the real loss made by the taxpayer. Tax relief wasn’t due for what was only a paper loss.
If someone tells you that there is a magic way of making tax disappear, be sceptical. We can advise you on what works and what doesn’t.