Dublinpilot
With the greatest of respect, loopholes are in the eye of the beholder.
What happened to MIRAS? Why did the government encourage small firms to incorporate and then complain that they took advantage of dividends in a way that they did not forsee?
There are a number of solutions to the problem - most of which ultimately relate to Flight Crew Licensing, rather than to the desire on the part of British Pilots to own their aircraft through a US trust.
In that case, if playing devil's advocate, I could argue that the two issues are not related. If people are using ownership to circumvent UK FCL rules, then surely the government is allowed to govern, by legislation.
I would be very careful how you construct your argument.