Tax avoidance or tax planning?

Adrian Holliday

Is it difficult to know which is which? With Nick Clegg wanting a Tycoon Tax to trap the super-wealthy - many thousands of millionaires still pay less than 30 per cent tax, depriving the UK tax base of millions a year - the issue is in the news.

Even some senior local council official employees are paid through limited companies, slashing their tax bill.