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Tax evasion ...
http://x404.co.uk/forum/viewtopic.php?f=19&t=16915		 Page 1 of 2
Author:  MrStevenRogers [ Sun Jul 22, 2012 7:26 pm ]
Post subject:  Tax evasion ...
Quote:
World's wealthiest have 'deprived the taxman of £13 TRILLION by hiding cash in tax havens overseas'

The world's wealthiest people are harbouring £13 Trillion ($21 Trillion) in offshore tax havens, according to a campaign group.

Tax Justice Network estimate that the huge sum - which may even be as high as £20 Trillion - has been squirreled away overseas.

The report's author James Henry, who is a specialist in tax havens, says that secretive jurisdictions including Switzerland, Luxembourg and Hong Kong are being used to keep trillions of pounds from out-of-the reach of the taxman.


http://www.dailymail.co.uk/news/article ... th.htmlthe

$60+ Trillion by laundering money by the 'banksters' and now open faced tax evasion

the working classes just have to pick up the bill and put up with PAYE

oh well start back to work on Tuesday, must keep going cant give up, the banksters require it ...
Author:  finlay666 [ Sun Jul 22, 2012 10:03 pm ]
Post subject:  Re: Tax evasion ...
As much as I hate to say it... if I was in a position where I could do something like that... I would absolutely avoid paying any more tax than I had to legally
Author:  l3v1ck [ Sun Jul 22, 2012 10:06 pm ]
Post subject:  Re: Tax evasion ...
finlay666 wrote:
I would absolutely avoid paying any more tax than I had to legally

That's tax avoidance, not tax evasion.
Author:  Linux_User [ Sun Jul 22, 2012 10:18 pm ]
Post subject:  Re: Tax evasion ...
finlay666 wrote:
As much as I hate to say it... if I was in a position where I could do something like that... I would absolutely avoid paying any more tax than I had to legally

And if you do then you never have the right to complain about the tax burden or the state of public services ever again.
Author:  cloaked_wolf [ Sun Jul 22, 2012 10:55 pm ]
Post subject:  Re: Tax evasion ...
I think certain tax avoidance is okay eg ISAs. But there has to be a limit especially on the amount. I'm already peeved that companies owe the UK around £4 billion in tax, yet my pensions pot gets raided and I have to pay more into it for less.
Author:  Linux_User [ Sun Jul 22, 2012 11:21 pm ]
Post subject:  Re: Tax evasion ...
cloaked_wolf wrote:
I think certain tax avoidance is okay eg ISAs. But there has to be a limit especially on the amount. I'm already peeved that companies owe the UK around £4 billion in tax, yet my pensions pot gets raided and I have to pay more into it for less.

I have no problem with the government using the tax system to incentivise certain behaviours - paying into a pension or saving for the future, for example. However, arranging dodgy situations where your money passes through several offshore companies in order to avoid paying tax is clearly a whole other ball game and, as the Chancellor would put it, is morally repugnant.
Author:  finlay666 [ Mon Jul 23, 2012 4:12 pm ]
Post subject:  Re: Tax evasion ...
Linux_User wrote:
finlay666 wrote:
As much as I hate to say it... if I was in a position where I could do something like that... I would absolutely avoid paying any more tax than I had to legally

And if you do then you never have the right to complain about the tax burden or the state of public services ever again.


Actually I would because I would legally be able to pay what I was abiding to the letter of the law

Avoidance is 100% legal, to avoid paying more than you should is a core principle of being frugal (and to an extend, financially responsible). To take advantages of things like Cash ISAs, working family credits, partial VAT claims on things like a home PC for work use... all perfectly legitimate and no one would bat an eyelid

Using these 'loopholes' is however IMO evasion not avoidance
Author:  mikepgood [ Mon Jul 23, 2012 9:12 pm ]
Post subject:  Re: Tax evasion ...
Gift aid is basicly tax avoidance.......
Author:  ProfessorF [ Mon Jul 23, 2012 10:08 pm ]
Post subject:  Re: Tax evasion ...
Except a charity directly benefits, unlike some cunning Swiss/Offshore loophole.
Author:  Linux_User [ Mon Jul 23, 2012 10:55 pm ]
Post subject:  Re: Tax evasion ...
For the record tax credits are a benefit, not a form of tax relief. The name is misleading.
Author:  l3v1ck [ Tue Jul 24, 2012 8:51 am ]
Post subject:  Re: Tax evasion ...
They're a pain in the arse is what they are!
Author:  bobbdobbs [ Tue Jul 24, 2012 9:28 am ]
Post subject:  Re: Tax evasion ...
Tax credits a system that actively encourages employers to pay low wages
Author:  ProfessorF [ Tue Jul 24, 2012 9:45 am ]
Post subject:  Re: Tax evasion ...
I work with someone who despite being qualified to teach at college level (and did so for many years), is better off working at my pay grade, thanks to the 5 children he has.
The supplements he's entitled to at my level puts him slightly ahead than if he was teaching.
Personally, I think the moral of the story is that people shouldn't have so many children...
Author:  belchingmatt [ Tue Jul 24, 2012 10:19 am ]
Post subject:  Re: Tax evasion ...
Benefits / credits for children should be set according to population requirements. Excluding the pension pyramid scheme of course.

Now that's just an off the cuff opinion, not subject to critical analysis or the like.

I'm just here for a bit of fun, no more, no less. :)
Author:  bobbdobbs [ Tue Jul 24, 2012 10:26 am ]
Post subject:  Re: Tax evasion ...
ProfessorF wrote:
I work with someone who despite being qualified to teach at college level (and did so for many years), is better off working at my pay grade, thanks to the 5 children he has.
The supplements he's entitled to at my level puts him slightly ahead than if he was teaching.
Personally, I think the moral of the story is that people shouldn't have so many children...


Just think of how his pension is going to be so much worse off when he retires because of him not teaching.
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