The Gazette 1975

SOLICITORS FIGHT 'TAX SNOOPING'

the unfortunate effect of putting stil) more power into the hands of the institutions. Accountants protest "I don't know whether even the Chancellor realises the full implications of this Bill. The politicians arc only the front men used to put through legislation devised by the Revenue. Accountants are equally incensed by the require- ment to tell the Revenue when arranging >ettlemcnt> for clients. The Institute of Chartered Accountants has already protested to the Treasury. Second Irish Examination At the examination held on 25th Julv, 1974, the following candidates passed : Robert H. D. Agnew, B.A. (Mod.), Henry J. Arigho. Cornelius D. Brosnan, B.C.L., Eamonn B. Bvrne, B.A. (Mod.), Mary Cantrell, John R. Carroll, B.C.L., Mar- garet M. Carter, Therese Clarke, Aidan D. Collins, B.C.L., Frances Cooke, John G. Dillon-Lectch. Anthony J. Doherty, M.A., LL.B., Hugh M. I'itzpatrick. Timothy Bouchier-Hayes, B.C.L., John W. Gay nor. Margaret M. A. Gleeson, Veronica M. Huggard. Liam Hipwell, Caroline Keane, Gillian Kiersey, Peter McLaughlin, Noel Malone, Patrick J. Minogue, Deirdrc Morris, B.C.L., John T. Mulvihill, Dermot f. Neilan. C rrol O'Daly, B.A., Adrian P. O'Gorman, B.C.L.. Celine M. O'Meara. ' Michael T. Quigley, Thomas P. Quinn, Peter J. Redmond, Graham C. Richards, B.A. (Mod.), D. J. Rochford, Rosemary A. Ryan, B.C.L., Linda Scales, William J. J. Smith, Roger Sweetman. Vincent O. G. Toher, Rosalecn Tvndall, Gerard H. Walsh. Roderick St. John Walsh, Richard R. Whelehan. B.A., H. Dip in Ed. 46 candidates attended; 43 candidates passed.

* A number of English solicitors have decided to defy the proposed "Snoopers' Charter" in the Finance Bill, requiring them to inform the Inland Revenue when a client makes a settlement that could incur Capital Transfer Tax — the new "gifts tax". Solicitors in Birmingham. Manchester and Newcastle upon Tyne are already known to have taken this stand, and the action could spread. A Birmingham solicitor said: "If this provision goes through, a law-abiding client will be treated worse than a criminal, whose discussions with his lawyer enjoy absolute confidentiality. "We heave written to the Law Society asking if refusal to inform the Inland Revenue would constitute professional misconduct". Capital Transfer Tax 'death knell' of PrivaU • Companies "But it is our intention that we will under no circum- stances give this information. I know of six to eight other solicitors, all in different firms, who are taking this position, and if I set out to canvass support I am sure 1 could find three or four times that number. If this iniquitous piece of legislation is passed, I shall inform the Inland Revenue that they can legislate as they like, but I will not disclose this information. The idea that the Revenue can get passed any legis- lation they like and expert us to conform to it is an impertinence. The solicitor said the general public did not seem to realise that the Capital Transfer Tax was quite literally the death knell of the private company. "I act for a fair «lumber of private companies, and I have seen some <«f thein broken up by Estate Duty. "To a certain extent that was their own fault for not taking appropriate measures. But it will be im- possible to avoid the new tax, or produce the cash to meet it without selling up. "If the Treasury now have a policy that no compam- should remain in the same hands for more than a generation and a half, or that all companies should be public companies, they should declare it. The con- fessions made so far will only benefit the smallest firms: something worth only £230.000 is a very modest con- fern indeed. "I act for one company, worth at least £1 million, )vhich has been in the same family since it was founded in 1823 and is extremely dynamic and efficient. Private fompanies are no less efficient than public ones. "If the Treasury have this policy, my clients might as well sell up right away and go abroad. Professional advisers are likely to advise people not to make settle- nients any more, but to provide for their children in fash and die bankrupt. "The Bill could also mean the end of the private investor; people are likely to put their money into insurance jxilicies instead of shares, which would have

Goodman Lashes 4 Fat, Greedy Lawyers'

'Only interested in money' — The blessed Arnold Goodman today hit out at "a tiny minority among his fellow-members of the legal profession", who, he claimed, "are only interested in making enormous piles of money". Lord Goodman spoke with passion of "hugely corpulent, heavy-jowled figures sitting in plush offices off the Strand and terrifying their clients by sending gigantic bills which bear no relation to the services rendered." Lord Goodman is 94 stone.