Miliband in tax hypocrisy shocker....

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Surprised that no-one has posted this yet:

http://www.dailymail.co.uk/news/article-2093272/21...


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davepoth said:

And seriously, what sort of mug is going to needlessly pay thousands of pounds extra to the Exchequer if they don't have to? If the government don't think it's worth closing the loophole that's their problem, and at least everyone knows about it now so they can all use it if they like.

Apart from the fact that most high earners (e.g. the despised bankers) will be on PAYE so cannot use it!

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So you honestly can't see any hypocrisy......????


Labour manifesto 1997:
"Just as we owe it to the taxpayer to crack down on tax avoidance..."

Labour manifesto 2001:
"We will continue to tackle tax avoidance...."

Labour manifesto 2010:
"In all sectors the law must be upheld, properly enforcing safety and employment rights, and tackling tax avoidance."
"Further action will be taken to strengthen developing countries’ tax systems, reduce tax evasion, improve reporting, and crack down on tax havens."

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elster said:

No it isn't hypocritical. He didn't work in the treasury when it was suggested.

Why are you trying to defend the indefensible...?

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MartyPubes said:

Call this a hunch but I think you might have voted Conservative.

As in this case, hunches can often be wrong...

You can't see a problem with someone who was in the running to be Labour leader, a party who have vociferously criticised other individuals for structuring their affairs to minimise tax, to be utilising those same tax avoidance measures??

Really?

Call this a hunch, but are you a Labour supporter??

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Eric Mc said:

You obviously don't understand how the bank bonus systems work then.

Care to explain Eric?

Having spent 6 years at banks and having paid tax on my bonuses I think I have a good idea....

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Eric Mc said:

The top execs get paid in share options rather than cash bonuses. By careful tiiming of the cashing in of their share options, they can effectively pay 10% tax on the amount - and no NI. Not bad if you can wangle it.
They can also make use of offshore trusts to avoid tax altogether - especially if they are non-domicile in the UK.

I take it you were a general staff mermber rather than on the board of directors?

Edited by Eric Mc on Monday 30th January 09:16

I was not a board member but senior enough for a decent amount of my compensation to be paid in shares (rather than share options). Those shares could not be sold for 3 years (50%) or 4 years (50%) and when they were sold, income tax (and I though NIC too) was due at the appropriate marginal rate.

Are you referring to different schemes?'

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