Billions lost to tax dodgers.

[1959_60]

Interesting article and one (at least partly) backed up by the following article

https://fullfact.org/economy/tax-avoidance-evasion-uk/

The big issue seems to be the multinational companies who plonk their headquarters in the most beneficial place to avoid paying shed loads of tax. This issue can only be solved by the various countries working together to come up with a workable solution.

Even places like the Isle of Man are an anomaly, in effect robbing us of £££ of tax which really should be paid to HMRC. But...it is not illegal, so can you blame them?

I am a tax avoider - I have an ISA - but this seems to be OK.

[sinkov]

I am a tax avoider - I have an ISA - but this seems to be OK.

Of course it's OK 59/60, and I don't even see how it can be classed as 'avoidance'. The government says no tax is payable on ISA investments so you're not avoiding anything, you can't avoid paying something that's not due anyway.

[The Bedlington Terrier]

Tim Worstall is Senior Fellow at the Adam Smith Institute.

So what? Does that make his opinion more valid than the Shadow Chancellor of the Exchequer?

Perhaps his ancestry and old money is mired in the Slave Trade too?

[NZClaret]

What is wrong is that the Duke of Westminster leaves 8.3 Billion pounds and when he croaks it gets passed down without any inheritance tax. These super rich can get the best accountants/lawyers on the job and hide it away while the rest of us are shafted. Same goes for the Channel Islands and Isle of Man banking, they are glad to have the protection of being part of the UK but don't pay towards it. No one in their right mind wants to pay more tax than they have to just for governments to squander and line their own pension nest eggs but these loopholes for the rich need sorting out.

[1959_60]

Agree NZ. It is up to the Government to put in place measures that are workable. It is the job of accountants to save their clients paying unnecessary tax.

It is a bit like one of those water balloons. Try to squeeze the tax avoider in one direction and the accountants make it pop out in another place.

[The Bedlington Terrier]

From a fairly independent "no axes to grind" source, we are losing nearly £200 billion a year in all sorts of dodges...

http://experian.co.uk/blogs/latest-t...ond-every-day/

[NZClaret]

From a fairly independent "no axes to grind" source, we are losing nearly £200 billion a year in all sorts of dodges...

http://experian.co.uk/blogs/latest-t...ond-every-day/

Those at the top of the tree and the parasitic layabout work shy spongers at the bottom need reeling in. It is those in the middle who get out of bed and go to work day in day out that are subsidising the lot of them. The tax system and benefit system needs a complete overhaul, billionaires paying sod all and people leaving school, spending their life sucking money out of the system with free heathcare and a pension at the end is a joke.

[1959_60]

From a fairly independent "no axes to grind" source, we are losing nearly £200 billion a year in all sorts of dodges...

http://experian.co.uk/blogs/latest-t...ond-every-day/

Interesting report BT. The report says that private companies are hardest hit - £144 billion per annum.

I think we can all agree that fraudsters, spongers and tax evaders are costing us all a lot of money and every sensible effort should be made to bring them to book.

[sinkov]

Interesting report BT.

Except that the report is from two years ago, the latest figures from HMRC show that the scale of tax avoidance is nowhere near the figures such reports as that were claiming, which is why the undershoot is so massive. Just more Fake News.

[sinkov]

What is wrong is that the Duke of Westminster leaves 8.3 Billion pounds and when he croaks it gets passed down without any inheritance tax.

I know nothing of the Duke's affairs NZ but if he can legally avoid paying the iniquitous Inheritance Tax good for him. I do know about my sister though, she had a good job and a handicapped daughter, her husband had buggered off years ago and her life consisted of work, caring for her daughter, and watching Burnley's home games, and that was it, no holidays. She died a few years back and left her money to her son and daughter, but as she had been unable to spend much of her wage over her lifetime it had gone over the threshold for Inheritance Tax. She worked all her life, she paid her taxes, what moral right did the government have to take from her estate, her money which she wished to leave to her children ? Inheritance Tax is nothing more than legalised theft imo.