This is an excellent and STRONGLY RECOMMENDED article published in the FT. Check it out!
Reading this detailed article, I must say that I was a bit surprised at the aggressive tactics being followed.
Personally, I am not sure that I know what should be done about tax avoidance; I have little confidence in David Cameron‘s assurances. Perhaps, the most worrying aspect is that if you are big enough and wealthy enough, you can avoid paying large amounts tax; it’s a different story, of course, if you are a middle-class, salaried worker, with a mortgage.
For another excellent article on the “tax avoidance”, see this hard-hitting article by Richard Murphy
Perhaps, it is time for a far-reaching review of taxation in the UK?