The Vocabularist: Loopholes were just for looking through


Budget time always brings the word “loophole” back into vogue, as calls arise for various tax avoidance routes to be blocked, writes Trevor Timpson.

This year loopholes brought to George Osborne’s attention included TV presenters setting up as one-person companies, and property magnates opting to pay their taxes in Crown dependencies.

The use of loophole as a clever scheme, often caused by a defect in a law or rule, was in use as early as October 1648.

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