+ Visit Rotherham United FC Mad for Latest News, Transfer Gossip, Fixtures and Match Results
Page 11 of 11 FirstFirst ... 91011
Results 101 to 108 of 108

Thread: O/T people on benefits

  1. #101
    Join Date
    Feb 2014
    Posts
    1,342
    Quote Originally Posted by wrinkly View Post
    Obviously I don't have details of all tax avoidance schemes, neither does HMRC otherwise they would be taking steps to shut them all down. Generally I would go along with HMRC's definition as quoted in my previous post. The tax avoidance actions evolve to keep one step in front of HMRC so it's impossible to be specific about which I object to.

    However here are some examples of actions I object to:

    The K2 scheme. Possibly only in the limelight because of Jimmy Carr's involvement. UK earners supposedly quit their jobs and sign new contracts with offshore shell companies. These companies pay the the employee a pittance and then "loan" them sizeable amounts to make up their earnings. Without going into too much detail the "legal" scheme enabled JC to carry on doing the same job, receiving the same money but only paying tax of 1% on that money. JC chucked £3 million a year into that scheme. It doesn't cross your " line" of legality so is it OK? In my opinion it is morally abhorrent.
    Over a thousand other "investors" used that scheme. An accountant selling the scheme advised clients that it would take HMRC years to block the scheme so "make hay while the sun shines". You may think that all the 1%ers still pay a decent amount in to the pot so they are not a bad bunch. I have to disagree. You may also think that , if there were no higher rates of tax, these investors would not bother with such a scheme and would be happy to pay say 20% instead because that would be "fair". The cynic in me suggests that you would be dreaming to think that.

    I have twice now tried to finish this post and the site has kicked me out. I will leave it at that and expand at a later time - if I can be arsed.
    I think the Jimmy Carr scheme was successfully challenged by HMRC, and I agree that's beyond what's reasonable. The problem is that everything gets chucked into one pot and tarred with the same brush.

    For example, a couple of weeks ago, there was a leak relating to the tax affairs of a number of well known people including the Queen. Much was made of assets being held offshore and the people doing it widely criticised in the press. There's absolutely nothing wrong with holding assets offshore (abroad). HMRC are fine with it and there is no issue. Holding assets offshore is more about tax planning than tax avoidance...because it doesn't avoid any tax. It simply gives flexibility on when any profits are realised and repatriated and the appropriate tax paid. But that's not what gets reported, and it leads to a great deal of misunderstanding.

  2. #102
    But when Lewis Hamilton lends his jet to Mo Farah, well that’s just taking the piss.

    Anyway this thread has gone off the original point of scroungers on benefits that makes such magnificent tv programs.

  3. #103
    Join Date
    Sep 2008
    Posts
    6,999
    Quote Originally Posted by Lasterman View Post
    I think the Jimmy Carr scheme was successfully challenged by HMRC, and I agree that's beyond what's reasonable. The problem is that everything gets chucked into one pot and tarred with the same brush.

    For example, a couple of weeks ago, there was a leak relating to the tax affairs of a number of well known people including the Queen. Much was made of assets being held offshore and the people doing it widely criticised in the press. There's absolutely nothing wrong with holding assets offshore (abroad). HMRC are fine with it and there is no issue. Holding assets offshore is more about tax planning than tax avoidance...because it doesn't avoid any tax. It simply gives flexibility on when any profits are realised and repatriated and the appropriate tax paid. But that's not what gets reported, and it leads to a great deal of misunderstanding.
    Because of the K2 scheme and others the Government changed the rules to stop such schemes. The K2 scheme was abandoned. The same "make hay while the sun shines" accountant apparently then tweaked the scheme so that some of the "stars" of "Mrs Brown's boys" could shuffle a few million off to Mauritius and dodge tax in the same way. Hopefully the tweak hasn't worked and the dodgers get hammered and, better still, the series gets cancelled. Paddy Power are giving odds of 20/1 that the next series is filmed in Mauritius and 150-1 that Brendan O'Carroll is jailed for crimes against comedy

    A spokesperson for Paddy Power said: “I know it’s achingly cool to hate Mrs Brown’s Boys but, for once, the hipsters are right.
    “So this leak has put a lot of hope into the people of Ireland, Britain and anyone who owns a television set. A Mrs Brown’s Boys-free year of telly really would be Paradise.”

    Anyway that's me done on the subject. Thanks for an intelligent and non-abusive debate Lasterman. We are poles apart on the rights (?) and wrongs of tax avoidance but at least you've seen the error of your ways in your "if it's legal it's ok" stance - a u-turn in the right directon

    I'm convinced that you are a thoroughly decent chap with a social conscience and, obviously a great sense of humour (Your "tax avoiders only want to be fair" point could migrate to the Bugle with little amendment )

    I've enjoyed the thread - despite it being hi-jacked from its "benefit cheats make me sick" theme

  4. #104
    Quote Originally Posted by wrinkly View Post
    Because of the K2 scheme and others the Government changed the rules to stop such schemes. The K2 scheme was abandoned. The same "make hay while the sun shines" accountant apparently then tweaked the scheme so that some of the "stars" of "Mrs Brown's boys" could shuffle a few million off to Mauritius and dodge tax in the same way. Hopefully the tweak hasn't worked and the dodgers get hammered and, better still, the series gets cancelled. Paddy Power are giving odds of 20/1 that the next series is filmed in Mauritius and 150-1 that Brendan O'Carroll is jailed for crimes against comedy

    A spokesperson for Paddy Power said: “I know it’s achingly cool to hate Mrs Brown’s Boys but, for once, the hipsters are right.
    “So this leak has put a lot of hope into the people of Ireland, Britain and anyone who owns a television set. A Mrs Brown’s Boys-free year of telly really would be Paradise.”

    Anyway that's me done on the subject. Thanks for an intelligent and non-abusive debate Lasterman. We are poles apart on the rights (?) and wrongs of tax avoidance but at least you've seen the error of your ways in your "if it's legal it's ok" stance - a u-turn in the right directon

    I'm convinced that you are a thoroughly decent chap with a social conscience and, obviously a great sense of humour (Your "tax avoiders only want to be fair" point could migrate to the Bugle with little amendment )

    I've enjoyed the thread - despite it being hi-jacked from its "benefit cheats make me sick" theme
    What baffles me is the Mrs Brown’s boys one. Aren’t they citizens of the Republic of Ireland so don’t pay tax to the UK anyway?

  5. #105
    Join Date
    Sep 2008
    Posts
    6,999
    Quote Originally Posted by Grist_To_The_Mill View Post
    What baffles me is the Mrs Brown’s boys one. Aren’t they citizens of the Republic of Ireland so don’t pay tax to the UK anyway?
    Citizenship doesn't matter. Residence and Domicile for tax purposes do. Quite complicated. Statutory Residence test incorporates automatic overseas tests and automatic UK tests, how many days you spend in the UK/abroad, where and for how long do you have a home, whether or not you work full time in the UK. etc. etc. You can even be resident and liable for tax on the same income in 2 different countries (although double taxation agreements usually allow you to claim tax paid in one country against liabilty on the same income in another). So - a bit messy. In the case of the Mrs Brown's boys actors tax is reported as being avoided in both the UK and Ireland.

  6. #106
    Ah one of Mrs Brown's ploys.

    I thought they were citizens of the republic and that the series was filmed there.

  7. #107
    Join Date
    Sep 2008
    Posts
    6,999
    Quote Originally Posted by Grist_To_The_Mill View Post
    Ah one of Mrs Brown's ploys.

    I thought they were citizens of the republic and that the series was filmed there.
    Filmed in Glasgow

  8. #108
    Quote Originally Posted by wrinkly View Post
    Filmed in Glasgow
    Ah that makes it easier to understand

Page 11 of 11 FirstFirst ... 91011

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •