Tax Dodgers' Paradise.

Did you see what I did there? Anyway it's been all over the press and I haven't seen a thread here so far. This is definitely of interest to us as it would appear to involve a holier-than-thou rock star, shit comedy actors, the Royal Family (not the comedy) and mega-star sports people. Here's one link of many.
‘Paradise Papers’ spark political backlash over offshore finance

I'd have posted the Bono story but it was DM.

As far as I am concerned the key word is "legality." People witter on about the "spirit of the law" which is a load of old rubbish. Why don't we make any loophole immediately illegal, as I believe happens elsewhere?
 
Did you see what I did there? Anyway it's been all over the press and I haven't seen a thread here so far. This is definitely of interest to us as it would appear to involve a holier-than-thou rock star, shit comedy actors, the Royal Family (not the comedy) and mega-star sports people. Here's one link of many.
‘Paradise Papers’ spark political backlash over offshore finance

I'd have posted the Bono story but it was DM.

As far as I am concerned the key word is "legality." People witter on about the "spirit of the law" which is a load of old rubbish. Why don't we make any loophole immediately illegal, as I believe happens elsewhere?
Done to death under buying VC's with your money thread.
 
Ahh, thought it was a bit odd that nothing had been put up and didn't read much of that thread- thought it was a slanging match between the Trotsky of The Valleys and the running dogs of the capitalist state :).
Might as well punt this then.
 
Ahh, thought it was a bit odd that nothing had been put up and didn't read much of that thread- thought it was a slanging match between the Trotsky of The Valleys and the running dogs of the capitalist state :)
it is now
 
So your rich and get highly taxed on your earnings, so anything after that is yours (nope) so you stick it in a tax-haven to escape being taxed on your savings, whats wrong with that ?
 
So your rich and get highly taxed on your earnings, so anything after that is yours (nope) so you stick it in a tax-haven to escape being taxed on your savings, whats wrong with that ?
I guess most sensible people would save themselves £3m by doing shenanigans with the paperwork on their private jet. And if challenged, the answer would probably be, "so report me to HMRC- and while you're at it, report the Queen too."
The answer to this must be a willingness by the state to close loopholes down much more effectively. The fact that they're not and similar stories keep cropping up, must be down to an unwillingness by the powers that be to address it.
Why would that be.
 
Corbyn is not going to close loopholes, he knows that is where donations for the war chest comes from.
 
Why would that be.
As you have asked politely twice this is why it happens.

The Civil Service do not have the in-house capability to write the tax code.

They use Deloittes, KPMG, PwC, Ernst & Young etc to advise them. The big accountancy firms run rings around the CS and build trapdoors into and out of the tax legislation.

They then sell these “legal” trapdoors and loopholes to their clients for mega fees.

Job jobbed. Twice.


As an aside “KPMG” is a good check when leaving the house and ensuring you have everything you need with you. Keys, phone, money, glasses.
 
Did you see what I did there? Anyway it's been all over the press and I haven't seen a thread here so far. This is definitely of interest to us as it would appear to involve a holier-than-thou rock star, shit comedy actors, the Royal Family (not the comedy) and mega-star sports people. Here's one link of many.
‘Paradise Papers’ spark political backlash over offshore finance

I'd have posted the Bono story but it was DM.

As far as I am concerned the key word is "legality." People witter on about the "spirit of the law" which is a load of old rubbish. Why don't we make any loophole immediately illegal, as I believe happens elsewhere?
The very mention of Blair's tax evading mate Bono involved in yet more dodging/evasion sends my blood pressure through the roof.

Bono's the sort of cnut who should be taken out and shot.
 

MoleBath

LE
Kit Reviewer
Book Reviewer
Offshore does not always mean tax free. If you hold units in an unregulated open ended fund (unit trust in English) you are still liable to UK CGT when you sell them at a profit. But why let the facts spoil a good story. I of M , Bermuda and C Isles all have money laundering rules
 
I made damn sure I didn't go over my 93 days in order to keep my hard-earned tax-free, was that immoral?
 
The IoM has different tax rules than the UK, it's innocent till proven guilty and they need strong suspicion of wrong doing to even investigate you. Hence the upset when HMRC raid accountants in the IoM over IR35 cases

English tax law is different, it is essentially guilty till proven innocent with HMRC (IR35 for example), and they don't need a reason to investigate you
 
My only problem with legal tax avoidance is jealousy. Tax evasion, I have a problem with.
If you're actually exploiting a loophole - using convoluted structures to legally do something which is clearly meant to be banned - then I've some sympathy with the argument against tax avoidance.

The trouble is, people have conflated that with any kind of offshore investment.
 

llech

LE
Ahh, thought it was a bit odd that nothing had been put up and didn't read much of that thread- thought it was a slanging match between the Trotsky of The Valleys and the running dogs of the capitalist state :).
Might as well punt this then.
Valleys, VALLEYS? That's the feckin SOUTH, you'll find I'm a GOG! Oh and the Queen can **** off an all!
 

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