George Osbourne's Autumn Statement Would Tax Avoidance Help?
Discussion
IMO Politics is descending into the depths of misfeance by the week.
Our leaders are, to a man. (woman) feathering their own nests, irrespective of the consequences.
If we do not find a way to stop this utter corruption of public life, our politicians will ruin the country and swan off into the sunset with our money. And a peerage.
The Chancellor, George Osbourne, multi millionaire tax avoider, is waxing lyrical on the way in which the electorate need to tighten their belts, lower their economic hopes, spend less, work harder and generally suffer for the good of the country.
Contrast this to the multi millions of Taxation avoided by Mr Osbourne and his father by very clever inheritance tax planning and other such artificial devices. Not just a million pounds better off but multi millions better off.
Doubtless Mr Osbourne sees nothing improper in this.
There are none so blind as those that choose not to see.
My OH has suggested that a statement from George Osbourne explaining the detail and techniques involved in his tax avoidance schemes, giving full details of the money he has saved, and the lovely cars, houses and furnishings he can now afford to buy, would be a much more appropriate subject for the Mansion House Speech by the Chancellor.
More honest, more open, more informative and MUCH more interesting.
What do PH'ers think?
Our leaders are, to a man. (woman) feathering their own nests, irrespective of the consequences.
If we do not find a way to stop this utter corruption of public life, our politicians will ruin the country and swan off into the sunset with our money. And a peerage.
The Chancellor, George Osbourne, multi millionaire tax avoider, is waxing lyrical on the way in which the electorate need to tighten their belts, lower their economic hopes, spend less, work harder and generally suffer for the good of the country.
Contrast this to the multi millions of Taxation avoided by Mr Osbourne and his father by very clever inheritance tax planning and other such artificial devices. Not just a million pounds better off but multi millions better off.
Doubtless Mr Osbourne sees nothing improper in this.
There are none so blind as those that choose not to see.
My OH has suggested that a statement from George Osbourne explaining the detail and techniques involved in his tax avoidance schemes, giving full details of the money he has saved, and the lovely cars, houses and furnishings he can now afford to buy, would be a much more appropriate subject for the Mansion House Speech by the Chancellor.
More honest, more open, more informative and MUCH more interesting.
What do PH'ers think?
There is nothing wrong with it. Avoidance is legal. People using the structure of existing legislation to mitigate their exposure to tax.
Evasion is illegal and should be sought out and stopped and punished.
But guess which HMRC (the govt and hence tax payers) spend the most time and resources chasing.....yeah Avoidance. Because they (probably, I am guessing) assume it is easier and more profitable to chase down 'avoiders'.
They could of course bring in a General Anti-avoidance Rule or rewrite the whole tax book (which I understand is a rather weighty tome)....
They need to reduce taxes, which will reduce the amount avoidance and put more effort into investigating/stopping and obtaining the proceeds made from crime (i.e. evasion).
(Stop watching the BBC.)
HTH
Evasion is illegal and should be sought out and stopped and punished.
But guess which HMRC (the govt and hence tax payers) spend the most time and resources chasing.....yeah Avoidance. Because they (probably, I am guessing) assume it is easier and more profitable to chase down 'avoiders'.
They could of course bring in a General Anti-avoidance Rule or rewrite the whole tax book (which I understand is a rather weighty tome)....
They need to reduce taxes, which will reduce the amount avoidance and put more effort into investigating/stopping and obtaining the proceeds made from crime (i.e. evasion).
(Stop watching the BBC.)
HTH
The Phillip Green affair is another example of political shenanigans.
How can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
How can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
Steffan said:
The Phillip Green affair is another example of political shenanigans.
How can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
Political shenanigansHow can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
indeed.
Philip Green is a UK resident for tax purposes and pays the required level of tax on the earnings he receives for working for Arcadia Group Limited.
However, he does not own Arcadia Group Limited - his South African wife who lives in Monaco does. As she is neither a citizen or resident of the UK, she is not subject to UK tax on the dividends she receives just as UK citizen wouldn't expect to pay foreign taxes on dividends from a foreign company.
Now I don't about the likes of UK Uncut but I'd rather live in an enlightened country where a wife's financial affairs are not pressumed to be the responsibility of her husband.
ninja-lewis said:
Steffan said:
The Phillip Green affair is another example of political shenanigans.
How can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
Political shenanigansHow can a man who lives in the UK has his business in the UK and spends most of his time in the UK be offshore for tax purposes.
This is a fiddle by our politicians.
Doubtless the donations to the political parties by Mr Green has paid dividends.
In fact the Revenue just removed the offshore status of a taxpayer who has lived abroad for thirty years.
And had several offshore homes.
Because, in the words of the QC in court, 'This man educated his children here and spends time here'. FFS.
Compare that to Phillip Green. This stinks.
indeed.
Philip Green is a UK resident for tax purposes and pays the required level of tax on the earnings he receives for working for Arcadia Group Limited.
However, he does not own Arcadia Group Limited - his South African wife who lives in Monaco does. As she is neither a citizen or resident of the UK, she is not subject to UK tax on the dividends she receives just as UK citizen wouldn't expect to pay foreign taxes on dividends from a foreign company.
Now I don't about the likes of UK Uncut but I'd rather live in an enlightened country where a wife's financial affairs are not pressumed to be the responsibility of her husband.
Then maybe we could have joint personal allowances claimed on the highest earners PAYE to minimise overall tax liability within a household.
Personally....I think we should bring in joint tax returns for every family. (husband, wife, children under 18). Normal PAYE and yearly joint return including everyone's allowance, earnings and tax paid. For divorced families....just avoid the husband on the return. Anyway you look at it...it is better than bloody handouts to everyone after high taxation!
ninja-lewis said:
Political shenanigans
indeed.
Philip Green is a UK resident for tax purposes and pays the required level of tax on the earnings he receives for working for Arcadia Group Limited.
However, he does not own Arcadia Group Limited - his South African wife who lives in Monaco does. As she is neither a citizen or resident of the UK, she is not subject to UK tax on the dividends she receives just as UK citizen wouldn't expect to pay foreign taxes on dividends from a foreign company.
Now I don't about the likes of UK Uncut but I'd rather live in an enlightened country where a wife's financial affairs are not pressumed to be the responsibility of her husband.
If they ever divorce, she can take the lot, after all it's all in her name, nothing to do with Phil, he should be left penniless.indeed.
Philip Green is a UK resident for tax purposes and pays the required level of tax on the earnings he receives for working for Arcadia Group Limited.
However, he does not own Arcadia Group Limited - his South African wife who lives in Monaco does. As she is neither a citizen or resident of the UK, she is not subject to UK tax on the dividends she receives just as UK citizen wouldn't expect to pay foreign taxes on dividends from a foreign company.
Now I don't about the likes of UK Uncut but I'd rather live in an enlightened country where a wife's financial affairs are not pressumed to be the responsibility of her husband.
Steffan said:
IMO Politics is descending into the depths of misfeance by the week.
Our leaders are, to a man. (woman) feathering their own nests, irrespective of the consequences.
Contrast this to the multi millions of Taxation avoided by Mr Osbourne and his father by very clever inheritance tax planning and other such artificial devices. Not just a million pounds better off but multi millions better off.
What do PH'ers think?
No such thing as tax avoidance. You have a tax liability, calculated according to rules set out by the HMRC which are public and applied to all taxpayers. You either pay it and all is good, or you don't and are subject to prosecution for tax evasion.Our leaders are, to a man. (woman) feathering their own nests, irrespective of the consequences.
Contrast this to the multi millions of Taxation avoided by Mr Osbourne and his father by very clever inheritance tax planning and other such artificial devices. Not just a million pounds better off but multi millions better off.
What do PH'ers think?
If the point you are reaching for is that Mr Osborne has more so should pay more, then you might like to consider which government provided services such as welfare, police, armed forces, education, or transport he uses more of than any other full time resident adult. If he doesn't use notably more of them than anyone else, why should he pay notably more tax than anyone else ?
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