Toe the line - Taxation

Three sets of leaked documents, the last of which is known as the Pandora Papers, purport to show how the rich and powerful avoid paying tax and hide dishonest deals. John Gould discusses to what extent professional advisers should take on these clients. 

Key points

• The Pandora Papers leak purports to expose a ‘shadow financial system that benefits the world’s most rich and powerful’.
• A Chatham House report argues that British professionals enable post-Soviet elites to launder their money and their reputations.
• These reports argue that professionals know or ought to suspect that their clients are disreputable and should refuse to work for them.
• Advisers who act like the three wise monkeys are falling below the professional standards and may be breaking the law.

'Toe the line' is free to read here and on the Taxation website via subscription.

John is Senior Partner of Russell-Cooke. John's area of particular expertise is regulation and public law. He specialises in the analysis and solution of complex regulatory problems, advising regulators, government departments, law enforcement agencies, charities and statutory and professional bodies.