Wildcat Posted January 28, 2011 Author Share Posted January 28, 2011 Do you pay money into a pension, or put money in an ISA. That's tax avoidance you know. It's anti-social and immoral. The government are encouraging you to behave in an anti-social an immoral way by using tax avoidance in the form of saving and investing for retirement. Won't somebody think of the children. A discussion of tax avoidance..... http://en.wikipedia.org/wiki/Tax_avoidance_and_tax_evasion note no mention of ISAs, tax incentives or rebates.... it does mention exploiting tax havens.... Ooo look the Treasury is cracking down on Tax avoidance... You had better hide your ISAs and your pension..... http://www.hm-treasury.gov.uk/press_68_10.htm The term is clearly understood in the context of debates like this to mean the immoral exploitation of loopholes in tax law for advantage. Claiming I am arguing something different is pedantry at best. Link to comment Share on other sites More sharing options...
Wildcat Posted January 28, 2011 Author Share Posted January 28, 2011 Because salary is a payment in exchange for labour. You can however give your salary to your wife, or indeed any of your possessions and anything she makes from investing it will be her tax liability not yours. So if you give her an entire business empire, and she is a foreign resident, she will pay tax to the place she lives. It's really not that complicated is it! Not at all just immoral. Link to comment Share on other sites More sharing options...
Uptowngirl Posted January 28, 2011 Share Posted January 28, 2011 None of those are what I am talking about. Tax avoidance is exploiting the unintended consequences of legislation.... eg the setting up of 100s of companies in tax havens to launder money around. No you are wrong. Every one of those is simply a way of avoiding paying tax you don't need to. That is exactly the same for every legal tax avoidance measure. Some folks choose to have 6 kids and avoid income tax. Its no different except in the eyes of someone who is obviosly blinded by loathing of anyone successful. Link to comment Share on other sites More sharing options...
Uptowngirl Posted January 28, 2011 Share Posted January 28, 2011 A discussion of tax avoidance..... http://en.wikipedia.org/wiki/Tax_avoidance_and_tax_evasion note no mention of ISAs, tax incentives or rebates.... it does mention exploiting tax havens.... Ooo look the Treasury is cracking down on Tax avoidance... You had better hide your ISAs and your pension..... http://www.hm-treasury.gov.uk/press_68_10.htm The term is clearly understood in the context of debates like this to mean the immoral exploitation of loopholes in tax law for advantage. Claiming I am arguing something different is pedantry at best. So tax avoidance is using the rules to pay less tax. Tax evasion is using illegal means to do the same thing. If you can post the links how come you are unable to understand them. Link to comment Share on other sites More sharing options...
Bassman62 Posted January 28, 2011 Share Posted January 28, 2011 Just read an article that green's tax avoidance dates back to 2005. Why didnt labour do anything about it then? Harold Wilson when Labour PM stated in an interview that one nurse paid more tax than the whole of the Vesty (Dewhurst Butchers) family. Those at the top have known of this tax loophole system eversince income tax was introduced but have failed to do anything about it. Link to comment Share on other sites More sharing options...
Glamrocker Posted January 28, 2011 Share Posted January 28, 2011 Not one penny. UK law allows peope to move money into and out of the country freely. Those laws apply to everybody. But following your logic, I wonder how much money British tourists deny the economy and the British government by taking holidays outside the UK? Perhaps the government will introduce another 'stimulus' programme and sometime this year, taxpayers will again receive another 'Economic Stimulus' payment. This sort of programme seems not to be well understood, so and I'll explain it by using a Q & A format: Q. What is an 'Economic Stimulus' payment ? A. It is money that the government will send to taxpayers. Q.. Where will the government get this money ? A. From taxpayers. Q. So the government is giving me back my own money ? A. Only a smidgen of it. Q. What is the purpose of this payment ? A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy. Q. But isn't that stimulating the economy of China ? A. Shut up. Below is some helpful advice on how to best help the U.K. economy by spending your stimulus cheque wisely: If you spend the stimulus money at Asda or Tesco, the money will go to China , Taiwan or Sri Lanka . If you spend it on petrol, your money will go to the Arabs. If you purchase a computer, it will go to India , Taiwan or China. If you purchase fruit and vegetables, it will go to Mexico , Honduras, Kenya, Egypt and Guatemala ... If you buy an efficient car, it will go to Japan or Korea. If you purchase useless stuff, it will go to Taiwan . If you pay your credit cards off, or buy shares, it will go to management bonuses and they will take it out of the country. Instead, keep the money in the UK by: 1) Spending it at car boot sales, or 2) Going to night clubs, or 3) Spending it on prostitutes, or 4) Beer or whisky or 5) Tattoos. Conclusion: Be patriotic - go to a night club with a tattooed prostitute that you met at a car boot sale and drink beer day and night. No need to thank me, I'm just glad I could be of help:hihi: Really ,Is that why customs officers are on full alert when Pakistani flights go out of the country looking for smuggled out tax evaded cash.Seems your knowledge of the law is somewhat lacking. Link to comment Share on other sites More sharing options...
Cyclone Posted January 28, 2011 Share Posted January 28, 2011 You're denying now, wild cat, that an isa our pension is a way of avoiding paying tax? Why not just discuss this with yourself as reality clearly has no bearing on your opinion. Link to comment Share on other sites More sharing options...
Bassman62 Posted January 28, 2011 Share Posted January 28, 2011 Really ,Is that why customs officers are on full alert when Pakistani flights go out of the country looking for smuggled out tax evaded cash.Seems your knowledge of the law is somewhat lacking. They also used to go to Turkey with bags stuffed with cash where interest rates were much higher than the UK. Link to comment Share on other sites More sharing options...
manofstrad Posted January 28, 2011 Share Posted January 28, 2011 Who is the worst Tax shirker? I think the worse are the ones that shirk tax. Link to comment Share on other sites More sharing options...
taxman Posted January 28, 2011 Share Posted January 28, 2011 You're denying now, wild cat, that an isa our pension is a way of avoiding paying tax? Why not just discuss this with yourself as reality clearly has no bearing on your opinion. You really can't see the difference between investing in an ISA or putting some money away in a pension fund and funneling funds through offshore tax havens, actively investing in avoidance schemes or paying yourself in non existent platinum sponge? Link to comment Share on other sites More sharing options...
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