Thursday, 7 April 2011

Do as I say, not as I do

Legislation to prevent the practice of disguised remuneration, which uses trusts to provide non-repayable tax free loans and offshore pension schemes to avoid tax, was included in the Finance Bill.

With one minor clause.

section 554E (8) "specifically exempts members of the House of Commons and the Independent Parliamentary Standards Authority from the new legislation in situations where they are actually caught by it"

Making laws THEY don't have to abide by. Four legs good, two legs better eh?

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