FM hit the nail on the head in the last page and on this one has returned to nail it well and truly in. I can only say I'm glad some people on this forum aren't running the country, it's scary.
9/10 of us would pay less tax if we could. That doesn't mean we would pay NO tax, just less. Why not keep a little bit more of your hard earned cash?
Hard earned cash? You're a student aren't you? You want to get into the film business if I remember rightly.
What does being a student have anything to do with anything? My views on the subject are just as valid. I didn't go straight from school to university, I worked in a series of shit retail jobs and paid tax, not my fault new labour destroyed my generation by making us all believe we had to go to university and get into debt to be classed as decent human beings. So get out with your grumpy old man attitude and stereotypes about students.
I'm just saying if some one came to you and said you could pay less tax legally, you would definitely take it.
Nice. Apologies for reading your previous comments and remembering your personal circumstances, perhaps I should follow your example and not bother reading other people's posts.
If you read what I wrote earlier you would have seen that I have had the opportunity to pay less tax under a similar scheme to the one mentioned here but did not take it because I think they stink to high heaven, so, no, I would not "definitely take it."
I don't think the irony will be lost on many people of a student - presumably the beneficiary of at least some public funding at present - encouraging tax avoidance in the same post in which they lament the current lack of financial support being provided to students which force them Into debt.
Finally, let's be serious here, the Blairite introduction of tuition fees etc was a disgrace, but I have not seen Dodgy Dave and his mates talking about abolishing them, have you?
Finally, let's be serious here, the Blairite introduction of tuition fees etc was a disgrace, but I have not seen Dodgy Dave and his mates talking about abolishing them, have you?
Yup, the priority definately should be to un-do everything thats been done in the previous decade. That would be a start. but would it help us crawl out of the slime....?
Refresh my memory, I don't recall much strenuous opposition from the Tories when tuition fees were introduced by Blair.
Both Major and Thatcher had previously floated the idea but never had the balls to do it, Blair was able to use his huge political capital in 1998 to get them through.
For anyone to claim that the Conservatives were ever seriously opposed to these or would not have brought them in if they had won in 1997 is nonsense.
For what its worth I feel that tuition fees should be scrapped for certain degrees anyway, especially science, maths and engineering as these are in such short supply in the economy.
I don't get how somone can physically pay very little if any tax, yet pay in cash for a £7m? home?
Its not that hard to do Raz, I am not in Jimmy Carr's league but I am fortunate enough to have my own business that is making a nice profit.
If you employ a good accountancy firm that exploits the "legal" loop holes in the tax system you can save a fortune in tax payments.
When the Inland Revenue look at your records they find you have paid the amount of tax their system demanded on your earnings and cannot do anything about it.
These schemes are legal in the sense that they have not yet been made explicitly illegal, but they are clearly against the spirit and intention of the law. They deprive essential public services (which are also used by tax-avoiders) of money and they cause the rest of us to pay more. In my opinion, it is wrong to use them.
Sorry GF but I cant agree with you and you have to look at the bigger picture.
I was made redundent 22 years ago, I had a mortgage, 2 young children and bills to pay, I put it all on the line and started my own business. I was working 7 days a week and sometimes 15 hours plus a day.
All the hard work has paid off and I am glad to say my business is still here and has grown to employ 35 people.
Looking back at the blood, sweat and tears I have put in over the 22 years I do not feel one moment of guilt when our accountants suggest an idea that may save either myself or my company monies assoicated with Tax & NI.
If you are concerned with the lack of money for public services it would be better to look at the money spent on fighting pointless wars in far away lands or some of the crazy benifit payments that are being paid out to single parents and familys that don't work at all.
Sorry GF but I cant agree with you and you have to look at the bigger picture.
I was made redundent 22 years ago, I had a mortgage, 2 young children and bills to pay, I put it all on the line and started my own business. I was working 7 days a week and sometimes 15 hours plus a day.
All the hard work has paid off and I am glad to say my business is still here and has grown to employ 35 people.
Looking back at the blood, sweat and tears I have put in over the 22 years I do not feel one moment of guilt when our accountants suggest an idea that may save either myself or my company monies assoicated with Tax & NI.
If you are concerned with the lack of money for public services it would be better to look at the money spent on fighting pointless wars in far away lands or some of the crazy benifit payments that are being paid out to single parents and familys that don't work at all.
I don't think people begrudge SME's like yours trying to minimise your tax payments, that is within the bounds of reasonable behaviour. especially as the savings will go back into the business.
What really, really annoys many people are the antics of Vodafone, News Corp., Virgin and many, many other companies who use elaborate taxation schemes which mean they pay no tax in the UK whatsoever.
News Corp. are arguably the most influential company in the UK, they employ thousands of people in their various businesses and yet pay no tax in the UK whatsoever.
So, they use the publicly funded assets of the UK, roads, rail networks, law courts, police forces etc., to enable the distribution of their products - all of which costs billions to provide - and they pay no tax in the UK at all.
Vodafone are not quite as bad but still have plenty of form in this area, a few years back they bought out Hutchison from their Indian mobile firm (Hutchison-Essar) and paid around US$11.3 billion for the deal.
They then spent the next five years arguing with the Indian Finance Ministry that they should not have to pay the US$1.93 billion tax legitimately payable as part of the transaction.
They actually WON the case in January because their smart-arse lawyers managed to offshore the deal well enough so that it looked like it was being conducted between two foreign companies - even though by the letter of the law foreign companies can only own 49% of an Indian telco and Vodafone were buying a 67% stake!!!
Complete BS and a perfect example of how expensive lawyers can find ways to exploit loopholes in the system.
Vodafone must be so proud of taking nearly US$2 billion out of the Indian economy, money that could have been spent on alleviating poverty for millions of people.
Vodafone must be so proud of taking nearly US$2 billion out of the Indian economy, money that could have been spent on alleviating poverty for millions of people.
Or going towards India's space programme and nuclear weapons manufacture.
Vodafone must be so proud of taking nearly US$2 billion out of the Indian economy, money that could have been spent on alleviating poverty for millions of people.
Or going towards India's space programme and nuclear weapons manufacture.
To be fair India's two biggest enemies, China and Pakistan, both have nukes so you can hardly blame them for wanting them too.
I agree that it does stick in the craw with us giving them foreign aid still when they have more billionaires than the Americans - including two in the same family!
Comments
If you read what I wrote earlier you would have seen that I have had the opportunity to pay less tax under a similar scheme to the one mentioned here but did not take it because I think they stink to high heaven, so, no, I would not "definitely take it."
I don't think the irony will be lost on many people of a student - presumably the beneficiary of at least some public funding at present - encouraging tax avoidance in the same post in which they lament the current lack of financial support being provided to students which force them Into debt.
Finally, let's be serious here, the Blairite introduction of tuition fees etc was a disgrace, but I have not seen Dodgy Dave and his mates talking about abolishing them, have you?
If you employ a good accountancy firm that exploits the "legal" loop holes in the tax system you can save a fortune in tax payments.
When the Inland Revenue look at your records they find you have paid the amount of tax their system demanded on your earnings and cannot do anything about it.
I was made redundent 22 years ago, I had a mortgage, 2 young children and bills to pay, I put it all on the line and started my own business. I was working 7 days a week and sometimes 15 hours plus a day.
All the hard work has paid off and I am glad to say my business is still here and has grown to employ 35 people.
Looking back at the blood, sweat and tears I have put in over the 22 years I do not feel one moment of guilt when our accountants suggest an idea that may save either myself or my company monies assoicated with Tax & NI.
If you are concerned with the lack of money for public services it would be better to look at the money spent on fighting pointless wars in far away lands or some of the crazy benifit payments that are being paid out to single parents and familys that don't work at all.
What really, really annoys many people are the antics of Vodafone, News Corp., Virgin and many, many other companies who use elaborate taxation schemes which mean they pay no tax in the UK whatsoever.
News Corp. are arguably the most influential company in the UK, they employ thousands of people in their various businesses and yet pay no tax in the UK whatsoever.
So, they use the publicly funded assets of the UK, roads, rail networks, law courts, police forces etc., to enable the distribution of their products - all of which costs billions to provide - and they pay no tax in the UK at all.
Vodafone are not quite as bad but still have plenty of form in this area, a few years back they bought out Hutchison from their Indian mobile firm (Hutchison-Essar) and paid around US$11.3 billion for the deal.
They then spent the next five years arguing with the Indian Finance Ministry that they should not have to pay the US$1.93 billion tax legitimately payable as part of the transaction.
They actually WON the case in January because their smart-arse lawyers managed to offshore the deal well enough so that it looked like it was being conducted between two foreign companies - even though by the letter of the law foreign companies can only own 49% of an Indian telco and Vodafone were buying a 67% stake!!!
Complete BS and a perfect example of how expensive lawyers can find ways to exploit loopholes in the system.
Vodafone must be so proud of taking nearly US$2 billion out of the Indian economy, money that could have been spent on alleviating poverty for millions of people.
To be fair India's two biggest enemies, China and Pakistan, both have nukes so you can hardly blame them for wanting them too.
I agree that it does stick in the craw with us giving them foreign aid still when they have more billionaires than the Americans - including two in the same family!