Cyclone Posted June 21, 2012 Share Posted June 21, 2012 People would sooner pay interest on a deppreciating asset that needs feeding with taxed fuel and maintaining at considerable cost than pay the same amount in tax. Is that surprising. They'd rather have an asset that they are paying for than pay tax. Anything else obvious you want to state? What don't you understand. They serve their vanity Cars are vanity items? before their need to contribute directly to society in taxes that pays for the democracy we live in. I think that most people who buy a car using a loan still pay their tax, indeed have little choice about paying it. Link to comment Share on other sites More sharing options...
Cyclone Posted June 21, 2012 Share Posted June 21, 2012 I think the level of envy, spite and hatefulness against people who have made a few quid is pathetic. Nobody objects to them having made millions, they object to them paying a tax bill of <1% of their income. Link to comment Share on other sites More sharing options...
llamatron Posted June 21, 2012 Share Posted June 21, 2012 Its ridiculous that anyone can pay tax at that low rate but who wouldn't use that rate if they had the option-I don't understand why the media are having a go at him, have a go at the people that have not closed the loop hole! Link to comment Share on other sites More sharing options...
Cyclone Posted June 21, 2012 Share Posted June 21, 2012 It's not a loop hole, it's an abuse of the system. He signs his income away to a trust in Jersey, the trust 'lend' him money equivalent to his income at 0% interest rate and with no intention of ever reclaiming the 'loan'. Link to comment Share on other sites More sharing options...
llamatron Posted June 21, 2012 Share Posted June 21, 2012 It's not a loop hole, it's an abuse of the system. He signs his income away to a trust in Jersey, the trust 'lend' him money equivalent to his income at 0% interest rate and with no intention of ever reclaiming the 'loan'. Its not illegal though so it should be made illegal. Blame the accountant and the government before you blame him. Its not like he thought of it himself. Link to comment Share on other sites More sharing options...
truman Posted June 21, 2012 Share Posted June 21, 2012 Its not illegal though so it should be made illegal. Blame the accountant and the government before you blame him. Its not like he thought of it himself. Do you reckon he didn't know what he was doing? Do you think he thought he was paying the amount of tax due..or do you think he thought he was onto a winner? I mean doesn't everyone send their earnings to an offshore fund and then "borrow" it back? Link to comment Share on other sites More sharing options...
llamatron Posted June 21, 2012 Share Posted June 21, 2012 Do you reckon he didn't know what he was doing? Do you think he thought he was paying the amount of tax due..or do you think he thought he was onto a winner? I mean doesn't everyone send their earnings to an offshore fund and then "borrow" it back? I would guess a lot of rich individuals do and a lot of massive businesses do it. Of course they will they want to keep their money. We shouldn't be letting them do it because its ridiculous but thats up to the government to make it illegal and the accountants to stop giving people these ridiculous ideas because they wouldn't come up with it themselves would they! Link to comment Share on other sites More sharing options...
Cyclone Posted June 21, 2012 Share Posted June 21, 2012 Its not illegal though so it should be made illegal. Blame the accountant and the government before you blame him. Its not like he thought of it himself. True, there's not a lot of point in blaming him personally. Link to comment Share on other sites More sharing options...
rubydazzler Posted June 21, 2012 Share Posted June 21, 2012 Its not illegal though so it should be made illegal. Blame the accountant and the government before you blame him. Its not like he thought of it himself.I'm not blaming him for avoiding tax, or for being able to buy his £8.5m house in cash, good luck to him. I'm scornful of him for being the sort of mealymouthed hypocrite that makes part of his living lambasting and poking fun at his own ilk, people who deprive others whilst feathering their own nests. Do it by all means, if you want to, but don't pretend to be holier-than-thou at the same time. It's despicable. Link to comment Share on other sites More sharing options...
MrSmith Posted June 21, 2012 Share Posted June 21, 2012 I think my comparison is very valid. Some companies avoid vast sums of tax, that leaves the rest of us to pick up the tab. Truly immoral behaviour. In my opinion, the tax affairs of our large corporations should be widely publicised. Then I could decide which companies I spend my money with. I'd be choosing the ones that pay their dues. I don't shop at Boots anymore, nor do I use Vodaphone. Sadly, I've no idea whether the alternatives that I use are any better. If it bothers you why not check Companies House, all limited company accounts are available. Link to comment Share on other sites More sharing options...
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