The queen and her rich chums are helping the country NOT

[Llanedeyrnblue]

http://www.bbc.co.uk/news

[Eric the Half a Bee]

http://www.bbc.co.uk/news

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.

[Gofer Blue]

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.

[Eric the Half a Bee]

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.

[ccfc_is_my_life]

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.

[Wales-Bales]

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?

[elytillidie]

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...

53-Graphic.jpg

[Wales-Bales]

A view from Germany (in English)

https://projekte.sueddeutsche.de/par...-leak-e969006/

[Eric Cartman]

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.

[ccfc_is_my_life]

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?

[Wales-Bales]

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/

[Eric Cartman]

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

[ccfc_is_my_life]

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.

[BlueWales]

Odd that this story " breaks " just in time to take the heat off the Westminster perves scandal.

[Wales-Bales]

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

[BlueWales]

We have known about the existence of this hack for a while

So why didn't you tell us about it ?

Anything to do with Clinton you're over it like a Ginger Trump rash.

Also who is / are " We " your highness.

[A Quiet Monkfish]

Wonder how many of us are using google at the moment..

[Pearcey3]

The rich have always looked after themselves and that includes the monarchy. God knows why people look up to these social inadequates.

[jackrabbit]

The uninformed rantings about 'people not paying their taxes' are so typical of the times we live in. Grab a headline and make loud indignant noises about it, never mind the facts. Everybody pays tax. The question is how much tax. And what is done with it.

People who use perfectly legal tax avoidance schemes are not criminals or 'tainted' in any way. All they are doing is desperately trying to hang on to more of their OWN money. Shock horror!

Generally speaking, anybody who claims they don't organise their financial affairs in order to minimise their tax liability, is either an idiot or a hypocrite. Most fall into the second category, e.g. The Guardian, Daily Mirror, John McDonnell, Margaret Beckett and most Lefties who love to huff and puff about 'tax havens'.

I've got no particular axe to grind about Lewis Hamilton. I detest Formula 1. But he bought an aircraft for several million pounds - from earnings on which he had already paid tax. He then arranged the purchase in such a way that he avoided being taxed again. What he did was perfectly legal. Was it immoral? That's a matter of personal conjecture. It doesn't bother me. What would bother me is if he started lecturing the rest of us about the immorality of legal tax avoidance, as do McDonnell and Beckett. Of course the motto of the Left is 'do as I say, not as I do'. They all undergo specialist training on how to be a hypocrite.

[jon1959]

The uninformed rantings by tax dodgers' apologists are so typical of the times we live in.

[jackrabbit]

The uninformed rantings by tax dodgers' apologists are so typical of the times we live in.

We can't rely on your vote then?

[Toadstool]

Using your tax free allowance is avoiding paying tax