Hamilton and Button tax avoidance
Discussion
Hamilton and Button are not "non-doms". They are not UK tax residents and therefore have no liability to UK tax except in restricted circumstances.
Many, many UK born entertainers, singers, actors and sportsmen and women have lived outside the UK to obtain non UK tax residency status - including some ardent socialists, such as Sean Connery.
Many, many UK born entertainers, singers, actors and sportsmen and women have lived outside the UK to obtain non UK tax residency status - including some ardent socialists, such as Sean Connery.
soad said:
What about Coulthard? He's retired though.
He doesn't live in the UK; why on earth should he pay UK taxes? Same for Hamilton and Button. I have zero problem with this. You pay tax in the jurisdiction in which you live and/or where you earn your income. If that means choosing to live in Monaco (the geographical location is fine, but Monaco itself is not actually all that great) to avoid income tax, fair enough - racing drivers are "home" no more than a couple of weeks a year anyway. I heard Coulthard saying that at one point he was spending only about 25 days a year in Monaco, his tax base for the last couple of decades.Where I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation, same as everyone else. The idea that you can set your affairs in such a way that you can continue to live in the UK but NOT pay UK taxes (other than a nominal £90k annual charge) seems utterly ludicrous.
And that's not me being jealous, it's simply looking at the fairness or otherwise of the current system.
longblackcoat said:
He doesn't live in the UK; why on earth should he pay UK taxes? Same for Hamilton and Button. I have zero problem with this. You pay tax in the jurisdiction in which you live and/or where you earn your income. If that means choosing to live in Monaco (the geographical location is fine, but Monaco itself is not actually all that great) to avoid income tax, fair enough - racing drivers are "home" no more than a couple of weeks a year anyway. I heard Coulthard saying that at one point he was spending only about 25 days a year in Monaco, his tax base for the last couple of decades.
Where I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation, same as everyone else. The idea that you can set your affairs in such a way that you can continue to live in the UK but NOT pay UK taxes (other than a nominal £90k annual charge) seems utterly ludicrous.
And that's not me being jealous, it's simply looking at the fairness or otherwise of the current system.
nail hit headWhere I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation, same as everyone else. The idea that you can set your affairs in such a way that you can continue to live in the UK but NOT pay UK taxes (other than a nominal £90k annual charge) seems utterly ludicrous.
And that's not me being jealous, it's simply looking at the fairness or otherwise of the current system.
I have said for a long time the tax system is over complicated. you should pay tax in the country you do your work, and pay tax on products in the country that they are bought from.
things like starbucks/amazon etc aren't that difficult to sort out. what ever address you are sending it to, should be the point in where the tax should be paid...ie uk purchace, uk postal address, uk tax!....in this modern age it cant be difficult to work out/enforce
OP. Point out to your chums that Button and Hamilton have and continue to contribute to the employment of a great many people in their teams and their teams suppliers (all paying NI, Income Tax, VAT, Corporation Tax). Their respective 'brands' creates income for the UK sellers/ makers of branded merchandise, these sellers / makers employing people..paying tax..etc.
Button even fronts an Ad Campaign for a British operating, Spanish owned bank. His reputation helping to increase the business of said bank, increasing the tax it pays in the UK and no doubt repatriating some Sterling from the grasp of those nasty Europeans.
And let's not forget the positive image these two give to 'Brand UK' promoting us on a global stage, helping to bring in foreign investment.
Tenuous it maybe but collectively, directly and indirectly, their contribution to the British tax coffers is pretty damn high.
Then ask your chums, how much they contribute!
Button even fronts an Ad Campaign for a British operating, Spanish owned bank. His reputation helping to increase the business of said bank, increasing the tax it pays in the UK and no doubt repatriating some Sterling from the grasp of those nasty Europeans.
And let's not forget the positive image these two give to 'Brand UK' promoting us on a global stage, helping to bring in foreign investment.
Tenuous it maybe but collectively, directly and indirectly, their contribution to the British tax coffers is pretty damn high.
Then ask your chums, how much they contribute!
beanbag said:
Not only that, the b
d UK government will try and take every penny it can in inheritance tax on items it's already taxed.
Not entirely correct when you think about it. Millions of people who bought houses in the 70's/80's (me included) are now sitting on a fat paper 'profit' of several hundred percent on which they have not paid a penny in tax, and nor are they or their kids likely to, given the proposed threshold changes. I would suggest that for many of us non-millionaires, this unexpected tax-free bonanza represents a significant proportion of their total wealth. Do you really think it's unfair to pay tax on this fortuitous 'capital gain'? Why are houses a special case? This is a topic which has generated many a heated debate amongst my friends and family, and yes, I readily admit that most would side with you. Greed is good d UK government will try and take every penny it can in inheritance tax on items it's already taxed.
Lewis and co live in Monaco so they can walk the streets,use restaurants etc with out getting hassled.Yes its also tax friendly,good luck to them,they deserve it.How many people does Lewis and Jenson employ,directly and indirectly ?
As for UK tax they only "work" in the UK for one w/end at Silverstone and may be a couple of TV appearances.I would think all there income comes from outside the UK,Germany,Malaysia etc ? I`m quite sure they both pay quite a lot tax around the world.
Lots of ordinary UK citizens don't pay UK tax.My son has spent the last 15 years living and working abroad and is an overseas tax payer,at the moment its Holland and 40% tax.
As for UK tax they only "work" in the UK for one w/end at Silverstone and may be a couple of TV appearances.I would think all there income comes from outside the UK,Germany,Malaysia etc ? I`m quite sure they both pay quite a lot tax around the world.
Lots of ordinary UK citizens don't pay UK tax.My son has spent the last 15 years living and working abroad and is an overseas tax payer,at the moment its Holland and 40% tax.
37chevy said:
longblackcoat said:
He doesn't live in the UK; why on earth should he pay UK taxes? Same for Hamilton and Button. I have zero problem with this. You pay tax in the jurisdiction in which you live and/or where you earn your income. If that means choosing to live in Monaco (the geographical location is fine, but Monaco itself is not actually all that great) to avoid income tax, fair enough - racing drivers are "home" no more than a couple of weeks a year anyway. I heard Coulthard saying that at one point he was spending only about 25 days a year in Monaco, his tax base for the last couple of decades.
Where I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation, same as everyone else. The idea that you can set your affairs in such a way that you can continue to live in the UK but NOT pay UK taxes (other than a nominal £90k annual charge) seems utterly ludicrous.
And that's not me being jealous, it's simply looking at the fairness or otherwise of the current system.
nail hit headWhere I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation, same as everyone else. The idea that you can set your affairs in such a way that you can continue to live in the UK but NOT pay UK taxes (other than a nominal £90k annual charge) seems utterly ludicrous.
And that's not me being jealous, it's simply looking at the fairness or otherwise of the current system.
I have said for a long time the tax system is over complicated. you should pay tax in the country you do your work, and pay tax on products in the country that they are bought from.
things like starbucks/amazon etc aren't that difficult to sort out. what ever address you are sending it to, should be the point in where the tax should be paid...ie uk purchace, uk postal address, uk tax!....in this modern age it cant be difficult to work out/enforce
Non doms pay UK income tax on UK earnings. Plus a minimum of £30K on top.They don't pay UK tax on foreign earnings, just like Hamilton and co.
I have every sympathy for those who go abroad to find more tax lenient regimes, if they so wish, and non doms are just the same.
The answer to the problem, if it is a problem, lies with any government, but they are all just too greedy and profligate to be able to implement it.
REALIST123 said:
37chevy said:
longblackcoat said:
He doesn't live in the UK; why on earth should he pay UK taxes? <clip> Where I do have a problem is with the non-doms; in my view if you live and work in the UK you should be subject to UK taxation...
nail hit head... I have said for a long time the tax system is over complicated. you should pay tax in the country you do your work <etc.>
Wiki says: UK resident non-doms pay UK income tax and capital gains tax on UK sources of income and gains and on foreign income or gains, but only to the extent that they are remitted to the UK.
RichB said:
ndeed, there seems to be so much anger directed at Non-doms yet so few seem to understand it. Not saying I'm an expert but a few days ago when it was in the news I looked it up. There's plenty out there to inform e.g.
Wiki says: UK resident non-doms pay UK income tax and capital gains tax on UK sources of income and gains and on foreign income or gains, but only to the extent that they are remitted to the UK.
Discussion of "non-doms" is entirely irrelevant when talking about Hamilton or Button. They are, in fact, both UK domiciled. They were both born in the UK and a person retains their domicile of birth no matter where they end up living. To lose your domicile of birth you have to make very, very affirmative renouncements of your country of birth. As far as I know, neither Hamilton nor Button have ever done this.Wiki says: UK resident non-doms pay UK income tax and capital gains tax on UK sources of income and gains and on foreign income or gains, but only to the extent that they are remitted to the UK.
They simply do not pay UK tax because they are not resident in the UK.
Eric Mc said:
Discussion of "non-doms" is entirely irrelevant when talking about Hamilton or Button. They are, in fact, both UK domiciled. They were both born in the UK and a person retains their domicile of birth no matter where they end up living. To lose your domicile of birth you have to make very, very affirmative renouncements of your country of birth. As far as I know, neither Hamilton nor Button have ever done this.
They simply do not pay UK tax because they are not resident in the UK.
Exactly this They simply do not pay UK tax because they are not resident in the UK.
I am also British by birth but choose to live and work in another country (The Netherlands). I therefore pay my taxes in that country.
Well, actually I don't really pay any tax at all but that's another matter
It is just a problem that some political parties cannot get their heads arround.
If you are genuinely super rich, you can choose where to live. Taxing UK mansions therefore makes more sense than dumping non-Dom status.
However plausible it might sound in the manifesto gett rid of the non-dorms and you will probably find you have less tax on mansions as well.
If you are genuinely super rich, you can choose where to live. Taxing UK mansions therefore makes more sense than dumping non-Dom status.
However plausible it might sound in the manifesto gett rid of the non-dorms and you will probably find you have less tax on mansions as well.
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