Although the order was anticipated, many bankers were surprised by the depth of the cuts and were already trying to identify loopholes.
"Through their work in advising government on changes to legislation they have a detailed knowledge of UK tax law, and the insight to identify loopholes in new legislation quickly," it said.
The efforts have often been effective at temporarily holding down prices, but the market usually roars back as investors, homeowners — and even banks and property agents — identify loopholes in the restrictions, analysts say.
With today's proposal on the automatic exchange of information, tax authorities would be able to better identify loopholes or duplication of tax between member states".
He sought in its debate to identify loopholes for religious tolerance on behalf of the Independents.
As you make progress, these systems will help you monitor your goals and identify loopholes easily.
A pamphlet about balancing the checkbook, for example, does not equip a homebuyer with the know-how to avoid scams or identify loopholes in his contract.
Gordon Brown and Alistair Darling were actually both fond of identifying tax loopholes that could be closed to raise additional revenues – for example, budget 2008 found £500m through anti-avoidance measures.
Government officials say they have identified the loopholes and are acting to tighten the system.
We've identified what loopholes in the tax code can be closed that would also raise revenue.
