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The queen and her rich chums are helping the country NOT
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Llanedeyrnblue
It amazes me how the rich and powerful are able to successfully negotiate their tax obligations with HMRC while the likes of the ordinary person would be jailed for doing so.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Eric the Half a Bee
It amazes me how the rich and powerful are able to successfully negotiate their tax obligations with HMRC while the likes of the ordinary person would be jailed for doing so.
Presumably because the former are wealthy enough to employ the services of sharp accountants.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Gofer Blue
Presumably because the former are wealthy enough to employ the services of sharp accountants.
And the government are obliging enough to lay the carpet of avoidance methods for these accountants to cultivate and mow.
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1 Attachment(s)
Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
Gofer Blue
Presumably because the former are wealthy enough to employ the services of sharp accountants.
The rich getting richer is a good thing, haven't you heard of the trickle down effect...
Attachment 1926
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Re: The queen and her rich chums are helping the country NOT
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Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
Eric the Half a Bee
And the government are obliging enough to lay the carpet of avoidance methods for these accountants to cultivate and mow.
Or more accurately, the tax system is so ****ing overcomplicated, loopholes are always found.
More money is lost through illegal evasion than legal avoidance anyway.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
ccfc_is_my_life
Or more accurately, the tax system is so ****ing overcomplicated, loopholes are always found.
More money is lost through illegal evasion than legal avoidance anyway.
Found or built-in? :sherlock:
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Wales-Bales
Found or built-in? :sherlock:
Found.
You seem to act as if it's a massive conspiracy. It isn't. HMRC for example can retrospectively act.
Example; in IT there were numerous schemes where income went to off shore Trust who then "loaned" you the money; every year loans would be written off. It was ridiculously obvious the intent - I told one of those accountancy companies spinning it to **** right off. For one thing, should that Trust be taken over and loans demanded, you're financially ****ed. Equally, only way to prevent that is documentation up front proving loans would not be paid - which exposes the concept.
From the day those schemes were clamped down on, HMRC could act retrospectively - meaning you would get penalised for years where those schemes were deemed legal, which craps all over justice.
Equally, the system is so bloated, there's no definite law. It's all interpretation - accountants interpretation and HMRC's interpretation. There's no guarantee HMRC have things right, only way of finding out is testing in the courts.
What we really need is to streamline the tax system, simplify around a few understandable concepts.
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Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
ccfc_is_my_life
Found.
You seem to act as if it's a massive conspiracy. It isn't. HMRC for example can retrospectively act.
Example; in IT there were numerous schemes where income went to off shore Trust who then "loaned" you the money; every year loans would be written off. It was ridiculously obvious the intent - I told one of those accountancy companies spinning it to **** right off. For one thing, should that Trust be taken over and loans demanded, you're financially ****ed. Equally, only way to prevent that is documentation up front proving loans would not be paid - which exposes the concept.
From the day those schemes were clamped down on, HMRC could act retrospectively - meaning you would get penalised for years where those schemes were deemed legal, which craps all over justice.
Equally, the system is so bloated, there's no definite law. It's all interpretation - accountants interpretation and HMRC's interpretation. There's no guarantee HMRC have things right, only way of finding out is testing in the courts.
What we really need is to streamline the tax system, simplify around a few understandable concepts.
It is complicated for a reason, misdirection.
There appears to be a lot of movement of staff between HMRC and big business that benefit from 'finding' the loopholes. The government tell me what tax to pay, they effectively ask mega rich and big businesses what they would like to pay.
You know you are ****ed when the woman whose face is on the currency doesn't even keep her money here.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Eric Cartman
It is complicated for a reason, misdirection.
There appears to be a lot of movement of staff between HMRC and big business that benefit from 'finding' the loopholes. The government tell me what tax to pay, they effectively ask mega rich and big businesses what they would like to pay.
You know you are ****ed when the woman whose face is on the currency doesn't even keep her money here.
The government don't tell you what tax to pay, HMRC do. For those self-employed, HMRC go off declared income. It's just as well everyone in the land is so honest with regards to cash payments, isn't it?
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Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
ccfc_is_my_life
Found.
You seem to act as if it's a massive conspiracy. It isn't. HMRC for example can retrospectively act.
Example; in IT there were numerous schemes where income went to off shore Trust who then "loaned" you the money; every year loans would be written off. It was ridiculously obvious the intent - I told one of those accountancy companies spinning it to **** right off. For one thing, should that Trust be taken over and loans demanded, you're financially ****ed. Equally, only way to prevent that is documentation up front proving loans would not be paid - which exposes the concept.
From the day those schemes were clamped down on, HMRC could act retrospectively - meaning you would get penalised for years where those schemes were deemed legal, which craps all over justice.
Equally, the system is so bloated, there's no definite law. It's all interpretation - accountants interpretation and HMRC's interpretation. There's no guarantee HMRC have things right, only way of finding out is testing in the courts.
What we really need is to streamline the tax system, simplify around a few understandable concepts.
Hence my observation :biggrin: So why haven't they fixed it?
The whole legal system is full of holes that honourable members of the Bar regularly exploit.
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Re: The queen and her rich chums are helping the country NOT
Shouldn't this be in the politics forum? :hide:
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Wales-Bales
Hence my observation :biggrin: So why haven't they fixed it?
The whole legal system is full of holes that honourable members of the Bar regularly exploit.
They haven't fixed it due to it requiring parliament to severely curtail HMRC's powers.
The quickest way to fix it is to go through the ridiculously large number of tax guidelines and simplify them. Do that and the likes of Corbyn will funnily enough play politics with it.
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Re: The queen and her rich chums are helping the country NOT
It started out with a trick, how did it end up like this? It was only a trick, I'm Mrs Brighthouse ..
https://projekte.sueddeutsche.de/par...-firm-e567616/
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
ccfc_is_my_life
They haven't fixed it due to it requiring parliament to severely curtail HMRC's powers.
The quickest way to fix it is to go through the ridiculously large number of tax guidelines and simplify them. Do that and the likes of Corbyn will funnily enough play politics with it.
It all sounds very convenient :wink: It seems like the lobbyists and polital donors get what they pay for :thumbup:
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Wales-Bales
It all sounds very convenient :wink: It seems like the lobbyists and polital donors get what they pay for :thumbup:
Only if you're a conspiracy theorist.
Tax system started off small, over time became larger becoming a behemoth of small print and edge cases.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
ccfc_is_my_life
Only if you're a conspiracy theorist.
Tax system started off small, over time became larger becoming a behemoth of small print and edge cases.
Not really a conspiracy, the facts are there for all to see. If you are looking for a motive, just ask the question who benefits? You are saying the situation came about purely by accident rather than design, which is fair enough, but there is no reason to call people who don't agree with you a conspiracy theorist in defence of your arguement. Do you even know how the term conspiracy theory came about?
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Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
ccfc_is_my_life
The government don't tell you what tax to pay, HMRC do. For those self-employed, HMRC go off declared income. It's just as well everyone in the land is so honest with regards to cash payments, isn't it?
No, the government do. HMRC are the heavies. Government decide the rate
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
Eric Cartman
No, the government do. HMRC are the heavies. Government decide the rate
Government issue the guidelines, things like rates.
HMRC decide their own view of what applies to what, things like employment status which is often wrong - see IR35.
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Re: The queen and her rich chums are helping the country NOT
Quote:
Originally Posted by
Wales-Bales
Not really a conspiracy, the facts are there for all to see. If you are looking for a motive, just ask the question who benefits? You are saying the situation came about purely by accident rather than design, which is fair enough, but there is no reason to call people who don't agree with you a conspiracy theorist in defence of your arguement. Do you even know how the term conspiracy theory came about?
I bet there was a conspiracy behind it. I blame tinfoil manufacturers.
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Re: The queen and her rich chums are helping the country NOT
Odd that this story " breaks " just in time to take the heat off the Westminster perves scandal.
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
ccfc_is_my_life
I bet there was a conspiracy behind it. I blame tinfoil manufacturers.
Let's run with your theory that the tax code is riddled with holes purely by accident, so how would you go about explaining the existence of the tax havens located in British overseas territories? It does seem too good to be true that the wealthy can to take advantage of an accidentally designed tax code, in order to avoid paying tax using this system. Some might say it is a match made in heaven. Ok go on then, call me a coincidence theorist if you must :biggrin:
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Re: The queen and her rich chums are helping the country NOT
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Originally Posted by
BlueWales
Odd that this story " breaks " just in time to take the heat off the Westminster perves scandal.
We have known about the existence of this hack for a while :thumbup:
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Re: The queen and her rich chums are helping the country NOT
Wonder how many of us are using google at the moment..