Panama Papers

I know the difference :) and personally don't really have an issue with avoidance because we all know we would be doing the same thing in their shoes. Just wondered if there was some actual evasion in a sea of avoidance schemes?
 
apologies - theres always some bad eggs but I've a feeling they are going to be the dictator types and their mates who seem to do what they want anyway. I expect those UK names will have a loophole they jumped through but as you say if I won the lottery tomorrow I'd sure as hell be making sure I paid as little tax on the interest as I could.
 
doodah said:
Illegal, no but he's got some cheek wading into Jimmy Carr's use of it whilst papa Cameron is doing something similar. So is *all* of this tax avoidance and no evasion?
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Technically that's not true, his dad has been dead for 6 years :p
 
doodah said:
I know the difference :) and personally don't really have an issue with avoidance because we all know we would be doing the same thing in their shoes. Just wondered if there was some actual evasion in a sea of avoidance schemes?
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Actually I already do. I pay my pension contributions through a salary sacrifice arrangement. This reduces my (and my employers) tax and NI liabilities. At some point in the future HMRC will decide that this is not on, and that will be the end of that. Its just a difference of scale...
 
doodah said:
So his dad did it before and then he publicly villainized JC, pitch forks :mad::mad::p:p!!
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But didn't little Jimmy very publicly get egg on his face first by criticising rich people for making use of the same avoidance schemes he was? If we're getting the pitchforks out I think we should at least get the order right :D
 
Hambut_Bulge said:
But didn't little Jimmy very publicly get egg on his face first by criticising rich people for making use of the same avoidance schemes he was? If we're getting the pitchforks out I think we should at least get the order right :D
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That's his job isn't it? Criticising and taking the mick (regardless of how hypocritical it may be) :D
 
kiteloopy said:
PMQ's will be a good watch.
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JC seems to completely ignore anything going on and will randomly pick a subject sent in from Bob which will result in a own goal in some way.

saying that hes got a Steel industry to nationalise this week, that's probably enough to be getting along with
 
Von Smallhausen said:
Cameron's dad's involvement in offshore finance is no secret.
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wildman said:
exactly and neither is it illegal. People can question the morality of pumping your money offshore to reduce your tax liabilities through legal means, but that doesn't suddenly make it headline worthy.
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If you had a referendum at any point, asking whether it's acceptable for people to use offshore tax havens to avoid paying tax, the result would be a resounding no.

It might not be illegal, or a closely kept secret, but the "people" are never offered the chance to stop it. It's never on the ballot paper. Why?

Clearly these schemes are not in the national interest, and many of them exists in jurisdictions under the direct control of the UK government.

The politician keep quite about it, and whilst it's not in the forefront of peoples daily lives, it gets conveniently "forgotten" about.

These leaks are newsworthy, because it raises the profile of something which shouldn't exists, and would not exist if it weren't for the rich having effectively bought government off around the world.

The only difference between tax avoidance on this scale, and tax evasion, is tax evasion is the result of governments doing their job properly. There is no point in evading tax any more.
 
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doodah said:
I know the difference :) and personally don't really have an issue with avoidance because we all know we would be doing the same thing in their shoes. Just wondered if there was some actual evasion in a sea of avoidance schemes?
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Speak for yourself, I'm no ****.
 
wildman said:
exactly and neither is it illegal. People can question the morality of pumping your money offshore to reduce your tax liabilities through legal means, but that doesn't suddenly make it headline worthy.
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It may be worth noting that the company in question was setup and run in a way to evade tax.

The company used Bearer Shares, an instrument used to hide your ownership of a company.

David Cameron banned the latter because they were used to evade tax.
 
OldCoals said:
It may be worth noting that the company in question was setup and run in a way to evade tax.

The company used Bearer Shares, an instrument used to hide your ownership of a company.

David Cameron banned the latter because they were used to evade tax.
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Can evade is not the same as to evade.
 
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