Nonnie, you said people I think you meant some people, wrong to assume everyone would avoid tax legally if they could because it applies to some people not all people
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Tax Havens
(835 Posts)We can't possibly let this slip by!
Tory on Radio 4 this morning arguing that we can't tackle the "treasure islands" that we have sovereignty over as it will lose people jobs!
I was astounded. So it is fine for the Steel workers to face penury but not those who help the wealthy to hide their money.
DC implicated - won't be long before GO is mentioned.
This is so petty I'm going to go and pack for my trip to Europe. Yes, I am one of those people who can afford the air fare so must be right wing and wealthy. As if!
Enjoy your trip,
It can be cheaper to fly to many European cities from the UK than it is to travel by train within the UK. I think you're just showing off. ;-)
Bon voyage! Gute Reise!
I read a letter in the Guardian earlier this week about the tax haven situation where the writer quoted Simon Hoggard (2008 MPs Expenses Scandal) -“But as so often in public life, it’s not what’s illegal but what is permitted that is the real scandal.”
For me the real issue is not about DC's or JC's tax returns. They are a very small tip of a much bigger iceberg. I am absolutely convinced that there is a lot more to be discovered which would shock we, the 'little people', who actually have no choice but to pay, and to pay dearly. How many millions do you need stuffed away to wield real power - 1m, 10m, 100m? We may think we are 'free' but we are anything but, even in a democracy like ours. The very rich own vast tracks of land (a finite source), raw resources, businesses reliant on those and, by default, they control the jobs, the pay, the services etc the rest of us are permitted to enjoy. We are only as free as the rich and powerful permit us to be.
Yes I think you are absolutely correct dev
Perhaps those who are having difficulty understanding should listen to this afternoon's phone-in on Radio 4 where they will probably learn quite a lot.
www.bbc.co.uk/programmes/b076mml7
Near the beginning one of the people who arranges offshore accounts explains how everything he does is controlled by the FCA.
So how come there is so much hidden cash?
Have you finished your packing * non*? Have a good time wherever you are going. The temperatures are looking good around the Mediterranean.
www.taxresearch.org.uk/Blog/2016/04/13/david-cameron-proves-he-is-corruptions-friend-not-its-enemy/
This is about the anti-corruption conference next month.
Cameron said in PMQs that they were not going to ask the tax havens to open up their books so there is transparency. So what's the point of their being a conference led by him on the sibject?
I also watched some of the debate this afternoon on the subject of tax havens and transparency. All the Tory front bench left as McDonnell started speaking.
I think it is most disrespectful.
After reading the paper today, my grandson asked, "Why do politicians choose to behave the way they do?"
Exactly.
From the tax returns, I would like to know how Osborne manages his money so he gets only three pounds in bank interest. Very clever with the amount he must put in his bank account. I get more than him.
Just the sort of person I was pointing out to pogs but she chose to ignore the post.
white I don't think we know how much hidden cash there is. One of the reasons cited for putting funds offshore was secrecy for perfectly good reasons e.g. you don't want a competitor to know what you are doing, like buying a property. I can understand the commercial sense in that.
Yes white all packed except the toothbrushes and hair straighteners. Will definitely have a great time regardless of the weather.
Those whose money earns interest offshore have to pay tax on it when they bring it back to the UK.
I think GO probably manages his bank account very well if he doesn't get much interest on his current account, he still gets more than we do! The secret is to keep just enough in the bank to pay bills but not enough to gain interest which is pitiful in the bank.
On PMQs today, Corbyn asked why Cameron had cut the number of staff working in HMRC. Cameron said that there were more than when he took over.
Then I read this.
www.taxresearch.org.uk/Blog/2016/04/13/can-a-government-committed-to-closing-all-but-14-of-the-uks-tax-offices-be-serious-about-tackling-tax-abuse/
While MPs have been taking the flack for tax abuse, what has been happening about the Tory party donors who have been hiding their money in Panama?
That was only part of the question, he also said there were more people dealing with claimants than in HMRC. The answer was that more were needed to ensure that the claimants got what they were due. Not exact words, my memory but it is more complete than quoted above.
Excellent, granjura. Have passed it on to those I know who use facebook, as I do not.
Hopefully every Harry Potter fan will read it.
I have always admired Rowling, person with a big heart. Love HP too!
So JKR thinks as I do about paying our tax , so at least the reduces the number of people who would legally avoid tax by two
Nonnie- enjoy your trip.
Petty though? Come on- billions of unpaid tax that would support our NHS, education, social services, environment, etc, etc, is NOT PETTY- it makes the difference between the country being to run well or fall apart, as it is now.
The huge majority of tax payers just cannot avoid paying tax- as Osborne and Little have been for many years- most businesses can't either.
We can afford to travel too- we even live in Europe- and NO Duncan, we are not 'jealous' we are sick about the hypocrisy and lies and the 'must tighten our belt as we are all in this together' NOT!
act.one.org/sign/territories/?t=1&utm_source=email&utm_medium=email&akid=7944.6964335.p_giap
To ask Cameron to commit to a public register in the offshore territories, too.
Nonnie, I have less than £500 in my current account most of the time, moving money between accounts to pay bills. I still get more than he does over the year.
We also need to look closer to home and one of the things I would like to see ended is non Dom status.
Eloethan. Your post 00.18.
POGS "in saying that you are not a ' green eyed monster ' you are using the age old put down of implying that those who support inhereitence tax - or any other attempt to distribute wealth more evenly - do so because they are envious.
No . May I remind you , you previously asked me why I 'personally' thought Inheritence Tax was a shit tax. I responded by saying " I am no 'green eyed monster' , hate class warfare , I can't abide attacking wealth for the sheer joy of doing so, I don't care if when a person dies they had more wealth than I do." . I was answering directly your question as I see it. As for turning the term 'green eyed monster' into indignation be assuming I was generalising then whilst I in all sincerity made the comment in a personal manner I don't suppose I will argue with you as I think there is an element of truth behind my feeling there is an element of society that does hate wealth.
Your precis of my friends father shows we both think differently but after his home/estate was valued basically the compensation he had fought so hard for, waited so long to be awarded and the subsequent cause of his death and which was given to him after living a horrid existence with a terminal disease , The Treasury took their share because he had the nerve not to live long enough to find the benefit. Taxing death will never sit right in my mind.
For the record when I die if the Inhereitence Tax is at it's present threshold my estate will not be subject to Inhereitence Tax. My home is my financial asset, certainly not my savings. I am not coming at this from the point of view my family will benefit from Inhereitence Tax being scrapped I genuinely have an issue on taxing death.
You raise another type of tax that could be implemented as an 'opt in' to align with your view that the present threshold of £325.000.00 is as you state 'more than enough' in your opinion to pass on to your family or whom ever.. Perhaps The Treasury could set up an 'opt in' system where ALL monies over the threshold could be passed on to the Treasury as a sort of Gift Aid.
Non Dom status is indeed rally dodgy. I can't put detail here- but let it be said that I KNOW for facts how dodgy indeed it can be! And that for years and years ...
www.theguardian.com/politics/2016/apr/11/one-in-four-hmrc-staff-have-confidence-in-senior-management-poll
This means that three in four do not.
Morale at HMRC is at an all time low.
Who, apart from HMRC, deals with tax collection, Nonnie?
And why? What else is HMRC for?
Been like that for donkeys years
Didn't get that impression from PMQs today, though., whitewave. Dodgu Dave gave the impression that everything was up to speed and they were raking in taxes.
Fullfact will put him right tomorrow.
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