Tax avoidance schemes

Companies reducing their tax bills through efficient use of tax planning schemes has risen by a third, according to figures from Pinsent Masons.

For the year 2011/12, corporation tax avoidance schemes declared to HMRC by UK businesses stood at 1,862, 36% higher than the 1,371 declared schemes in the previous financial year and five times higher than that in 2007/08.

Previous research by the legal firm saw the number of tax avoidance schemes blocked by legislation had fallen to nine in 2010-11, from 18 in 2009-10 and 173 in 2006-7.