Tax Evasion for us Plebs?

No1newts

No1newts

No1newts

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Joined
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it seems the mega rich get a free pass to avoid bothering with taxes. Just wondering if anyone knows of ways us plebs can avoid paying anything or less?

So fed up of getting annoyed about it I’m just looking to get on the bandwagon!

Any tips? :p
 
The rich don't evade tax. Thats's illegal (ok some do/will and when they get caught should go to prison)

They Avoid paying more tax than they legally have to. Thats LEGAL. And something most of you do anyway.

Just because headlines state they paid no tax as they went through a LTD company is misleading the LTD will have paid tax on its profits. They need to have profits before a dividend can be paid.

Yes they pay very clever people to look for loopholes but those loopholes wouldn't exist if our tax system wasn't so complicated
 
Of course what you mostly need to pay "less tax" is to have money you are not instantly spending.

So if you have no savings and no property then that's basically all options gone and free membership to the club of complaining about it.

For example... You have a bunch of money that you've earned or been given.

Lets pay less tax by buying a woodland and managing it commercially for 2 years. Now when you die there is no inheritance tax on the woodland. The trees grown are not taxed for capital gains either.

But step one is still having money to invest in the first place.

Another term for paying "less tax" is saving money and it can be much more than just stuffing it into a bank.
 
Thank you mattyg, I get tired of hearing people say X avoids paying any tax, it's shocking. No, X *MINIMIZES* the tax he has to pay by astute financial management. I usually find those that whine the loudest about wealthy people's tax minimisation are those that have the most imaginative / fraudulent insurance and warranty claims!
 
mattyg said:
The rich don't evade tax. Thats's illegal (ok some do/will and when they get caught should go to prison)

They Avoid paying more tax than they legally have to. Thats LEGAL. And something most of you do anyway.

Just because headlines state they paid no tax as they went through a LTD company is misleading the LTD will have paid tax on its profits. They need to have profits before a dividend can be paid.

Yes they pay very clever people to look for loopholes but those loopholes wouldn't exist if our tax system wasn't so complicated
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Sound like you have something to hide ;) :p

Chris Wilson said:
Thank you mattyg, I get tired of hearing people say X avoids paying any tax, it's shocking. No, X *MINIMIZES* the tax he has to pay by astute financial management. I usually find those that whine the loudest about wealthy people's tax minimisation are those that have the most imaginative / fraudulent insurance and warranty claims!
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And you!
 
Whilst I appreciate the requirement for tax, I do hate it. I'd love to move to the Cayman Islands, though something tells me I would need a slight pay rise to get through the front door.

I know tax avoidance is immoral, but it's not technically illegal. If I was being paid 7 or 8 figures a year I'd sure has hell look into it.

As for the quick and easy option, set up a company, buy a private jet, make massive losses, live a life of luxury, pay no tax, go bankrupt, loose everything, die knowing you once owned a private jet.

Edit: I'd recommend a Gulfstream G650, they're rather yummy and would make Lewis Hamilton's Challenger look like a peasant aircraft.
 
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No1newts said:
Surely one of the buggers must have thought they could be on to a win. Instead of getting a million a year of 1 mega rich person get £10 a year off a million of us plebs and they’ll have more money!
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A million times more work. I think i will take the richer client, my printer doesn't take any longer to print out the extra 0's that his money is worth.
 
set up a limited company only pay yourself up to the tax bracket... leave all other money in the company... day before you die sell all assets, spend all that money and everything in the company bank account on something destroyable.. and destroy it... technically tax is owed but aint no assets to pay it and no one to chase...
 
Tax evasion is pretty easy really if you end up in the right situation. I would expect quite a lot of people to evade tax when given the opportunity. Whether that's cash in hand jobs (which are next to impossible to vet) managing to get VAT knocked off purchases by offering to pay in cash, to buying things outside of the EU and asking the seller to declare an amount that means you won't have to pay customs fees.

FortuitousFluke said:
I'm told you don't have to pay the TV licence if you're a freeman mentalist, so that's something.
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You might be legally obliged to pay for a TV license if you watch live TV. But it's not like it's extremely easy to both watch live TV, but avoid paying for a TV licence. It has little to do with Freeman of the Land nonsense. To actually get "done" for doing so, takes quite a specific situation where you admit "guilt" on paper.
 
Hotwired said:
Sure, gift someone money 7 years before you die.
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You can actually send family as much money as you like tax free, as long as you don't require that money to live. If you have a job that can support your lifestyle and you pay tax on it, the rest is golden.
 
mattyg said:
The rich don't evade tax. Thats's illegal (ok some do/will and when they get caught should go to prison)

They Avoid paying more tax than they legally have to. Thats LEGAL. And something most of you do anyway.
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There’s a grey area between the two: schemes that are probably illegal but haven’t been ruled illegal yet and evasion schemes so complex that juries find it almost impossible to reach a guilty verdict.

As long as you pay your VAT and aren’t a complete dumbass, you’re unlikely to be convicted of tax evasion.
 
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