so lets scrap the scheme, meaning less films are made and lose the income derived from these films through profits, cinema tickets, concessions, cinema staff wages, etc
There is a reason the government offered incentives to invest in the film industry and that is that it makes money for the country.
Good to see Take that at the Manchester benefit gig. Just think how many more nurses and police we could afford if these pricks paid their taxes.
At this end of the earnings spectrum you don't need to work to survive and you choose to carry on working only if there is enough reward after costs and taxes. Tax rates that would disincentive any high earners, say, Take That, to work to generate income has a knock on effect that would mean theatres lose, merchandise producers lose, technicians and musicians lose and HMRC lose.
I know for a fact that everything Take That are earning is repaying the tax they now owe, and it's the only reason they are still touring. When they've paid it off it will no longer be worthwhile performing and they will stop performing and everyone can rejoice in the fact that they are now paying precisely the correct amount of tax to fund the NHS - zero.
If someones accountant says if you do 'x' (which is perfectly legal and a scheme set up to help keep high earners in the country rather than see them take all their earnings abroad ) it will help reduce your tax return , no one will say no please do 'y' to increase my taxation
If someones accountant says if you do 'x' (which is perfectly legal and a scheme set up to help keep high earners in the country rather than see them take all their earnings abroad ) it will help reduce your tax return , no one will say no please do 'y' to increase my taxation
Again I emphasise this was not as simple as just sheltering away some income akin to a straightforward EIS investment for example - these people borrowed multiples of their 'investment' in order to maximise the expected tax offset.
I think if an accountant recommended this I might be inclined to question its efficacy, regardless of my relative financial ignorance.
(Ps - the scheme was always 'legal' just not tax exempt - anyone can lever themselves up to invest in the film industry if they so wish!)
Yes it is legal, but it is for others to decide whether it is moral. It is perfectly legal for these people to lose popularity and their careers suffer too! I'm not saying that should happen but moral standards are important to many people!
Good to see Take that at the Manchester benefit gig. Just think how many more nurses and police we could afford if these pricks paid their taxes.
At this end of the earnings spectrum you don't need to work to survive and you choose to carry on working only if there is enough reward after costs and taxes. Tax rates that would disincentive any high earners, say, Take That, to work to generate income has a knock on effect that would mean theatres lose, merchandise producers lose, technicians and musicians lose and HMRC lose.
I know for a fact that everything Take That are earning is repaying the tax they now owe, and it's the only reason they are still touring. When they've paid it off it will no longer be worthwhile performing and they will stop performing and everyone can rejoice in the fact that they are now paying precisely the correct amount of tax to fund the NHS - zero.
I do wonder just which of the following make us better off:
People like those in Take That earning millions and millions of pounds and paying no tax; or
People like Take That sitting at home scratching their bottoms and the money that the fans spend on their stuff gets spent on something that does generate Tax revenues.
You see, someone, somewhere, must be making or providing something that the Take That fans will buy instead with their money. I would, personally, rather that money being used to buy things from someone that is paying Tax than someone that isn't.
And before anyone starts with the Amazon/Starbucks/Google don't pay enough UK Tax. I agree they don't and that needs to be addressed, but two wrongs don't make a right.
Also if Take That go on a World Tour and generate £5m each and decide that if they can't keep more than £2m of it then they won't bother then I'm more than happy for them to retire. I'd go on a word Tour for half a bar, net. If they don't want the money good luck to them.
Given how high your taxes are in Europe, "tax avoidance" should be considered a "right of man."
Are you American?
Yep!
Perhaps we should get rid of tax completely or maybe just for rich people. We could follow the wonderful healthcare and education system that the US has and have a President with the insight of a dog turd.
And you have a real winner in May!
The fact is I believe it is morally wrong for the state to take more than half of what anyone earns, no matter how much they make.
When you work more for the state than for yourself, that to me is a form of slavery.
I see little difference in being an actual slave and working 12 months of the year for someone...and working with a 80% tax rate like France tried a few years back, where essentially you work 10 months of the year for the state and then in November finally start to work for yourself.
The state's needs for revenue is literally NEVER-ending. They will always... and I mean... ALWAYS claim they need "more" and tell people that others being rich is "unfair".
I would rather let people keep the majority of their own money they worked for and spend it how they, not everyone else, wants.
My life belongs to me, first. And at minimum, it belongs more to me than the tyranny of the "majority." The individual should always keep at bare minimum the majority of what they earn.
Given how high your taxes are in Europe, "tax avoidance" should be considered a "right of man."
Are you American?
Yep!
Perhaps we should get rid of tax completely or maybe just for rich people. We could follow the wonderful healthcare and education system that the US has and have a President with the insight of a dog turd.
And you have a real winner in May!
The fact is I believe it is morally wrong for the state to take more than half of what anyone earns, no matter how much they make.
When you work more for the state than for yourself, that to me is a form of slavery.
I see little difference in being an actual slave and working 12 months of the year for someone...and working with a 80% tax rate like France tried a few years back, where essentially you work 10 months of the year for the state and then in November finally start to work for yourself.
The state's needs for revenue is literally NEVER-ending. They will always... and I mean... ALWAYS claim they need "more" and tell people that others being rich is "unfair".
I would rather let people keep the majority of their own money they worked for and spend it how they, not everyone else, wants.
My life belongs to me, first. And at minimum, it belongs more to me than the tyranny of the "majority." The individual should always keep at bare minimum the majority of what they earn.
No taxation without representation is the key.
The recent General Election has demonstrated just how disenfranchised many people feel with voters holding their noses and voting for parties they wouldn't normally touch as the 'least worst option.'
People don't want to pay tax to subsidise 'diversity' officers in Tower Hamlets or shareholders of private companies creaming off extortionate interest rates from NHS Buildings. That's before we even start talking about the artificial procurement markets in the NHS, Defence etc whereby 'contractors' rip off the taxpayer as prices are artificially inflated.
One of the reasons I voted 'LEAVE' is that I hope a UK Government will be accountable to the voters and introduce hypothecation of taxes so we can see where the money goes.
People will and do donate to Charities and good causes where they can see direct good arising from their donations. We should be able to adopt the same attitude to taxation and would if the whereabouts were more accountable.
As it is our political class is a corrupt, sleaze ridden, self serving bureaucracy designed to rip off the tax payer for its cronies and sod the taxpayer.
The use of the term Social Care instead of nursing is a fine example: The political class exploits sick people in order to steal their houses, invariably purchased out of ready taxed money incidentally, to pay the thousands of pounds they feel able to charge a year for social care yet what does that actually comprise? Two 15 minutes a day from someone on the minimum wage who may not have the best English if you are cared for at home or stuck in a nursing home and locked in a room like a prisoner in a cell or stuck in front of a television in a common room and made to feel 6 inches tall if you have the temerity to ask for help.
Like I say if people don't feel represented they will do all in their power to legitimately avoid paying tax and, in the present circumstances, who frankly can blame them?
Given how high your taxes are in Europe, "tax avoidance" should be considered a "right of man."
Are you American?
Yep!
Perhaps we should get rid of tax completely or maybe just for rich people. We could follow the wonderful healthcare and education system that the US has and have a President with the insight of a dog turd.
And you have a real winner in May!
The fact is I believe it is morally wrong for the state to take more than half of what anyone earns, no matter how much they make.
When you work more for the state than for yourself, that to me is a form of slavery.
I see little difference in being an actual slave and working 12 months of the year for someone...and working with a 80% tax rate like France tried a few years back, where essentially you work 10 months of the year for the state and then in November finally start to work for yourself.
The state's needs for revenue is literally NEVER-ending. They will always... and I mean... ALWAYS claim they need "more" and tell people that others being rich is "unfair".
I would rather let people keep the majority of their own money they worked for and spend it how they, not everyone else, wants.
My life belongs to me, first. And at minimum, it belongs more to me than the tyranny of the "majority." The individual should always keep at bare minimum the majority of what they earn.
No taxation without representation is the key.
The recent General Election has demonstrated just how disenfranchised many people feel with voters holding their noses and voting for parties they wouldn't normally touch as the 'least worst option.'
People don't want to pay tax to subsidise 'diversity' officers in Tower Hamlets or shareholders of private companies creaming off extortionate interest rates from NHS Buildings. That's before we even start talking about the artificial procurement markets in the NHS, Defence etc whereby 'contractors' rip off the taxpayer as prices are artificially inflated.
One of the reasons I voted 'LEAVE' is that I hope a UK Government will be accountable to the voters and introduce hypothecation of taxes so we can see where the money goes.
People will and do donate to Charities and good causes where they can see direct good arising from their donations. We should be able to adopt the same attitude to taxation and would if the whereabouts were more accountable.
As it is our political class is a corrupt, sleaze ridden, self serving bureaucracy designed to rip off the tax payer for its cronies and sod the taxpayer.
The use of the term Social Care instead of nursing is a fine example: The political class exploits sick people in order to steal their houses, invariably purchased out of ready taxed money incidentally, to pay the thousands of pounds they feel able to charge a year for social care yet what does that actually comprise? Two 15 minutes a day from someone on the minimum wage who may not have the best English if you are cared for at home or stuck in a nursing home and locked in a room like a prisoner in a cell or stuck in front of a television in a common room and made to feel 6 inches tall if you have the temerity to ask for help.
Like I say if people don't feel represented they will do all in their power to legitimately avoid paying tax and, in the present circumstances, who frankly can blame them?
As a side issue the NHS is already being ripped off, regardless of what the Tories do to it moving forward.
I have a friend in sales working for a pharmaceutical company. She sells theatre kit to NHS 'buyers' and multiples of what they can get it for and she takes them, and their families (or mistresses) to all expenses conferences to the Caribbean each year.
This friend of mine is earning six figures selling this stuff to people while they are drinking cocktails in the sun.
All the time someone is spending someone else's money this, always, is going to happen.
Maybe, just maybe, some kind of privatising deal will reduce this kind of corruption.
Either way there is always going to a big company willing to 'incentivise' NHS staff to buy from them. Sadly, it's just human nature.
Comments
There is a reason the government offered incentives to invest in the film industry and that is that it makes money for the country.
I know for a fact that everything Take That are earning is repaying the tax they now owe, and it's the only reason they are still touring. When they've paid it off it will no longer be worthwhile performing and they will stop performing and everyone can rejoice in the fact that they are now paying precisely the correct amount of tax to fund the NHS - zero.
I think if an accountant recommended this I might be inclined to question its efficacy, regardless of my relative financial ignorance.
(Ps - the scheme was always 'legal' just not tax exempt - anyone can lever themselves up to invest in the film industry if they so wish!)
People like those in Take That earning millions and millions of pounds and paying no tax; or
People like Take That sitting at home scratching their bottoms and the money that the fans spend on their stuff gets spent on something that does generate Tax revenues.
You see, someone, somewhere, must be making or providing something that the Take That fans will buy instead with their money. I would, personally, rather that money being used to buy things from someone that is paying Tax than someone that isn't.
And before anyone starts with the Amazon/Starbucks/Google don't pay enough UK Tax. I agree they don't and that needs to be addressed, but two wrongs don't make a right.
Also if Take That go on a World Tour and generate £5m each and decide that if they can't keep more than £2m of it then they won't bother then I'm more than happy for them to retire. I'd go on a word Tour for half a bar, net. If they don't want the money good luck to them.
The fact is I believe it is morally wrong for the state to take more than half of what anyone earns, no matter how much they make.
When you work more for the state than for yourself, that to me is a form of slavery.
I see little difference in being an actual slave and working 12 months of the year for someone...and working with a 80% tax rate like France tried a few years back, where essentially you work 10 months of the year for the state and then in November finally start to work for yourself.
The state's needs for revenue is literally NEVER-ending. They will always... and I mean... ALWAYS claim they need "more" and tell people that others being rich is "unfair".
I would rather let people keep the majority of their own money they worked for and spend it how they, not everyone else, wants.
My life belongs to me, first. And at minimum, it belongs more to me than the tyranny of the "majority." The individual should always keep at bare minimum the majority of what they earn.
The recent General Election has demonstrated just how disenfranchised many people feel with voters holding their noses and voting for parties they wouldn't normally touch as the 'least worst option.'
People don't want to pay tax to subsidise 'diversity' officers in Tower Hamlets or shareholders of private companies creaming off extortionate interest rates from NHS Buildings. That's before we even start talking about the artificial procurement markets in the NHS, Defence etc whereby 'contractors' rip off the taxpayer as prices are artificially inflated.
One of the reasons I voted 'LEAVE' is that I hope a UK Government will be accountable to the voters and introduce hypothecation of taxes so we can see where the money goes.
People will and do donate to Charities and good causes where they can see direct good arising from their donations. We should be able to adopt the same attitude to taxation and would if the whereabouts were more accountable.
As it is our political class is a corrupt, sleaze ridden, self serving bureaucracy designed to rip off the tax payer for its cronies and sod the taxpayer.
The use of the term Social Care instead of nursing is a fine example: The political class exploits sick people in order to steal their houses, invariably purchased out of ready taxed money incidentally, to pay the thousands of pounds they feel able to charge a year for social care yet what does that actually comprise? Two 15 minutes a day from someone on the minimum wage who may not have the best English if you are cared for at home or stuck in a nursing home and locked in a room like a prisoner in a cell or stuck in front of a television in a common room and made to feel 6 inches tall if you have the temerity to ask for help.
Like I say if people don't feel represented they will do all in their power to legitimately avoid paying tax and, in the present circumstances, who frankly can blame them?
I have a friend in sales working for a pharmaceutical company. She sells theatre kit to NHS 'buyers' and multiples of what they can get it for and she takes them, and their families (or mistresses) to all expenses conferences to the Caribbean each year.
This friend of mine is earning six figures selling this stuff to people while they are drinking cocktails in the sun.
All the time someone is spending someone else's money this, always, is going to happen.
Maybe, just maybe, some kind of privatising deal will reduce this kind of corruption.
Either way there is always going to a big company willing to 'incentivise' NHS staff to buy from them. Sadly, it's just human nature.