the PP was specifically referring to schemes of the type that Mrs. Brown's Boys took advantage of
These schemes are complex in nature and usually questionable in effectiveness
They are only obtainable via an intermediately that recommends them to you
they are not diy-able
tim
So why are they hired by the rich ?
Perhaps because the wealthy are too busy/not skilled enough to look into options for themselves and consider it is worth them employing someone to look into it for them[+]. I dunno but I do know that I can/have taken legally permitted steps to mitigate my tax liability. Anyone who does not is an idiot.
[+] I use a gardener from time to time because his hourly rate is less than my hourly rate. I could do the garden myself but it is not worth my time/cost to do so.I do not have an accountant/bookkeeper or whatever as I can do those things myself and it effectively costs me less to do so. Were I far wealthier then I may decide my time is worth more than hiring someone to do it for me (gardener, above).
I expect that a large number of people who need to will have various tax avoidance measures in place without seeking advice from an accountant or tax lawyer.
I'm surprised if you don't for example.
I've got an ISA, but I didn't know I could save £3million on a jet by claiming I was only using it for buisness and not for pleasure. I didnlt k now that if I took my girlfriend on the said plane to an island for a holid ay I could call it a business trip, did you klnow that ? Did yuo klnow that if you set upm a busness on a 'tax haven' and send money to it you can then lend that money back and it's not clessed as income ?
So why doesn't everyone do that ?
Or they have enough money that it's worth them paying someone else to reduce their tax burden. For most there isn't the savings to make it worthwhile.
Or is not so knowledgeable, or doesn't earn enough to reduce their tax liability significantly.
-- snip --
I expect that the majority of people have few tax avoidance measures and save very little.
Mark Allread posted
Really? How do you do it then?
Yes, our accountants mentioned that scheme a few years ago
We didn't because it felt "dodgy" and sure enough Jimmy Carr hit the headlines the following year
Not having £3million to spend its not something I thought about
Not having a plane or a girlfriend its not something I thought about
Not having enough money to do that, its not something I thought about.
They don't have enough money to make it worth thinking about?
I guess the truth of all this is that you are simply envious of those who do have that kind of money; I, on the other hand, am not.
so you did need an accountant to tell you, you couldn't work it out yourself.
can you do the same with a car or a coach or a train ?
He blammed his accountants, but didn't David Cameron criticise him and then it was found out that DC was also using tax aviodance sheme .
I's not the amount, but the plane was brought on the pretence that it was f or business purp[ose use ONLY and not for private holidays which would make it a taxable item. So why not try it with a car see if yuo can claim back your tax on that. Even I know that if you buy something for business it is tax deductable.
but you can do the same with a car or a boat or anything esle can't you.
Well maybe you'd have more money if you did think about it.
If they didn't pay so much tax they might have more money to think about.
Imagine if everyone that has ever brought a car could get the tax they paid on it given back to them because they only use it for busness.
Not envious but I donlt like to think they aren't paying their share to the NHS or anything else.
We have already established you are a tax avoider so you are the same as anyone else who seeks to avoid tax.
What you appear to be objecting to is the scale of the avoidance which means you must have a degree of envy.
Tax evasion, of course, is an entirely different thing and it is tax evasion that has caught out so many people in the past.
How do you work that one out, or are you getting confused with evasion ?
Well £3 million will help more than £3 quid . If I brought illegally imported alcohol I could avoid paying tax on it but that is illegal.
So what does say Lewis hamilton doing in this example when he brought a jet for business use for 16 million and he got the tax paid on it back ? Even though the jet was being used for private use just like you would use yuor car for private use, so tell me why we can;t buy a car and say it;s fo r business use claim the tax back and then use it to go on family holidays ?
Ypou seem to think he has done nothing wrong but perhaps we should wait and see what the HM Revenue and Customs say.
Perhaps yuo could explain why the Isle of Man government has called in the British tax office, which will this month begin a review of 231 tax refunds issued to private jet owners since 2011, in a $1bn VAT giveaway. Nothing to do with envy.
The two are often the same once regulations catch up with them. Same as any scam. Con men are often one step ahead of the law.
Good to know you think it moral, though.
Must have used the apocalyptical weather forecast headline already that week...
Indeed. Reminds me of:
Churchill: "Madam, would you sleep with me for five million pounds?"
Socialite: "My goodness, Mr. Churchill... Well, I suppose... we would have to discuss terms, of course... "
Churchill: "Would you sleep with me for five pounds?"
Socialite: "Mr. Churchill, what kind of woman do you think I am?!"
Churchill: "Madam, we've already established that. Now we are haggling about the price?
You have an ISA - you said so earlier; had you forgotten?
We are not discussing tax evasion but tax avoidance - something that you and many others do.
I've never said that anywhere. If he has evaded tax he is guilty of a crime.
I've no idea as I am a) not in the IoM government nor b) in the HMRC
OK so you are not envious of those who like you are tax avoiders (but have managed to do so with greater sums of money that you have) nor, like everyone else, do you support tax evasion.
So why are you getting so wound up about those who legitimately avoid tax?
If its a scam its illegal. Nothing difficult about that.
Tax avoidance is indeed perfectly legal. You are the one who has introduced morality into it. Maybe you find it difficult to separate legal from moral in the same way that some have difficulty in understanding the difference between avoidance and evasion.
I'm gratified to learn from your comments that you have never had any tax avoidance measures in place - you must be one of the very few who have never bought anything duty free on overseas holidays nor had one of the various tax exempt savings accounts.
Do/Did you take advantage of the tax free allowances when being paid - presumably not if you think tax avoidance is immoral.
That recollection had flashed across my mind also :-)
No, it wasn't. What happened was that the Guardian slung a lot of mud about Cameron's father's offshore investment fund, deliberately confusing the various meanings of the word "trust" to imply that Cameron was avoiding tax. Finally it became clear that he wasn't, and the guardian had to climb down and talk about "ill-advised" and "unnecessary secrecy" blah blah.
Lots of peole have an ISA the governemtn alloow almost anyone to have a ISA you don;t need to go off shore or high a solicitor and it's only for a set amount for everyone equally.
Essentially, the difference between avoidance and evasion is legality. Tax avoidance is legally exploiting the tax system to reduce current or future tax liabilities by means not intended by parliament. It often involves arti ficial transactions that are contrived to produce a tax advantage.
and there is nothing wrong with that because it is legal and anyone can do it. Do you NOT understand the differnce. Do you undertsnd the difernce bewteen killing someone and murdering them or are you confused about that too. Do you know the difernce between someone that is registared animal slaughte r and the croydon cat killer, are you realy this easily confused ?
Exacly and me or anyone else aren't evading tax we are avoidingn it within govenrment guidlines just like children are allowed to do with their saving s.
So maybe you can't tell legal from illegal then. Can you tell the differnce between having sex with someone and raping them ?
No not at all providing it is legal and open to anyone.
Tax evaision is illegal in the UK I have to obey UK laws so why shouldn't t hose with more money than me also obey them. do you think it was OK for jimmey saville to do what he did with kids becau se he was well known and had the power over the kids and some adults it see ms. Do you think it ok that he coulld rape yuong children because he gave money to charity ?
I'm not, not if those legitimately avoiding tax.
If I can get my salery paid into an offshore account and then I'm allowed t o borrow money from that account without paying tax why is that not an opti on I had to have my wages paid into a UK bank account !
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