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People Being Lambasted For Reducing Their Tax Burden.
Why all the pious posturing from the likes of Corbyn and McDonnell?
Is it now a crime in this country to save money?
As it stands the people named in the Paradise Papers have done nothing wrong - they have saved money through entirely legitimate means, so bloody good luck to them.
There is not a single tax payer in the UK who, if offered a completely legitimate way to pay £50 tax rather than £100, wouldn't grasp it with both hands (if they say they wouldn't they are either liars or there's something wrong with them) so I really don't see the difference.
As is usual when we're talking about people who have so much more money than most, this boils down to jealousy.
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Is it now a crime in this country to save money?
As it stands the people named in the Paradise Papers have done nothing wrong - they have saved money through entirely legitimate means, so bloody good luck to them.
There is not a single tax payer in the UK who, if offered a completely legitimate way to pay £50 tax rather than £100, wouldn't grasp it with both hands (if they say they wouldn't they are either liars or there's something wrong with them) so I really don't see the difference.
As is usual when we're talking about people who have so much more money than most, this boils down to jealousy.
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Answers
My neighbour told me he was buying a smaller car because he'd pay less road tax and spend much less on petrol, most of which is tax of course. He said he was going to put the money he made on selling his old car into a tax efficient ISA. Immoral tax-dodging scumbag or what?
10:59 Tue 07th Nov 2017
as far as Corbyn and McDonnell go, if they have a plan to reduce tax avoidance, I have no problem with them criticising the current loopholes. That's what an oppoistion should do.
What used to irritate me was the likes of Cameron and Osborne expressing their outrage when they were the only people in a position to do something about it but preferred not to. (Didn't Cameron senior have money in Panama?)
It's the "if" in your question that raises questions. These schemes are on offer only to people with a lot of money to pay their accountants. If I were an accountant I'd be preparing schemes in which lots of low-rate taxpayers could be bundled together to take advantage of the same opportunities.
What used to irritate me was the likes of Cameron and Osborne expressing their outrage when they were the only people in a position to do something about it but preferred not to. (Didn't Cameron senior have money in Panama?)
It's the "if" in your question that raises questions. These schemes are on offer only to people with a lot of money to pay their accountants. If I were an accountant I'd be preparing schemes in which lots of low-rate taxpayers could be bundled together to take advantage of the same opportunities.
There is nothing wrong with people being astute with their finances, but all those people in the Paradise fund are filthy rich individuals. It is not financial acuity - it is avaricious selfishness. It is always the honest and decent workers who carry the burden of providing public service responsibility. Those tax-avoiders should be ashamed of themselves.
Khandro, I read Karl’s post, but I’m not entirely sure that you and I understood it in the same way - hence my question to you.
Islay, //Anyway it has been looked at it is not illegal, morally wrong yes but illegal no!!//
I don’t see why it is morally wrong. Those people are paying tax in the UK - and probably far more than most people – therefore they are paying more than their fair share, as OG puts it. What’s morally wrong about that?
Islay, //Anyway it has been looked at it is not illegal, morally wrong yes but illegal no!!//
I don’t see why it is morally wrong. Those people are paying tax in the UK - and probably far more than most people – therefore they are paying more than their fair share, as OG puts it. What’s morally wrong about that?
“Possibly the NHS should start asking for proof that you have paid your legitimately required income tax before giving free treatment?”
But these people have paid their legitimately required income tax, Eddie. They have found ways to reduce their tax bill. I do the same (though not on such a scale because I haven’t got so much income).
The BBC is not in a particularly strong position to bleat on about these “immoral” schemes. It is on record as paying a number of people who, by any other definition, are their employees, via production companies where those concerned are often the only employee.
There’s no “morality” involved with tax. You pay what’s due and you don’t pay what isn’t due. What’s due is determined by Parliament and collected by HMRC. Every person and company has an absolute duty to reduce their tax bill to the minimum required. For its part the government has an absolute duty to spend the very minimum amount necessary to keep going the services and facilities for which it is responsible (which it spectacularly fails to do year after year). This leaves more money for people to spend themselves. Figures announced yesterday disclosed that (despite all these “tax dodgers”) the tax take in the UK has risen to a 50 year high of over 34% of GDP. That means more than one pound of every three earned is spent by the government. That is far too much and we all have a duty to reduce the sum that the government is given for it to waste. For that reason alone I applaud those who are the subject of these disclosures for doing more than their fair share to tackle that problem.
But these people have paid their legitimately required income tax, Eddie. They have found ways to reduce their tax bill. I do the same (though not on such a scale because I haven’t got so much income).
The BBC is not in a particularly strong position to bleat on about these “immoral” schemes. It is on record as paying a number of people who, by any other definition, are their employees, via production companies where those concerned are often the only employee.
There’s no “morality” involved with tax. You pay what’s due and you don’t pay what isn’t due. What’s due is determined by Parliament and collected by HMRC. Every person and company has an absolute duty to reduce their tax bill to the minimum required. For its part the government has an absolute duty to spend the very minimum amount necessary to keep going the services and facilities for which it is responsible (which it spectacularly fails to do year after year). This leaves more money for people to spend themselves. Figures announced yesterday disclosed that (despite all these “tax dodgers”) the tax take in the UK has risen to a 50 year high of over 34% of GDP. That means more than one pound of every three earned is spent by the government. That is far too much and we all have a duty to reduce the sum that the government is given for it to waste. For that reason alone I applaud those who are the subject of these disclosures for doing more than their fair share to tackle that problem.
I know I've made the point already, but it really does seem silly to bang on about "legitimacy" when so many of the people caught up in this (like Ashcroft) have hugely significant political influence and have used that influence to define what is legal in their favour. There is a power dynamic here that doesn't apply to someone switching cars.
All a bit pointless as tax avoidance does not affect 99 % of us.
I saw an artical about a tax avoidance company that said it's services were only for the 0.01 % of the population who are classed as super rich. It even admitted only the super rich could afford its fees!
By the way does AB members support for tax avoidance include cash in hand payments to tradesmen to avoid VAT?
I saw an artical about a tax avoidance company that said it's services were only for the 0.01 % of the population who are classed as super rich. It even admitted only the super rich could afford its fees!
By the way does AB members support for tax avoidance include cash in hand payments to tradesmen to avoid VAT?
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