Tax Havens

POGS, I'm not convinced by your argument. The compensation was awarded to your friend's father to compensate for suffering or disability, not your friend. It's sad the process took so long and that he didn't live long enough to benefit, but I still don't see why your friend should benefit from her father's misfortune. Any property he owned would probably not have been earned wealth.

I agree with Eloethan. Inheritance continues inequality from one generation to the next between the wealthy and the poor and between people living in different areas of the country.

Nonnie, I don't know whether the rules about withdrawing funds from offshore accounts have changed, but you used to be able to withdraw 5% per year tax-free. This means that if you have £2 million, you can withdraw £100,000 without ever having paid any tax on it, which I would have thought most people would find reasonably adequate.

Did you red the links , as a good friend of mine always asks.

Do you think the money which PWC donated to the Labour Party had been sheltered in a tax haven and that tax had not been paid on it?

Or is it counted as a charitable donation and therefore tax deductable?

I thought it might have been about the Big 4 accountancy firms DJ.

I believe you and Whitewave mentioned Price Waterhouse Cooper / PWC on the Steel Debacle Thread making connections to Cameron even on a thread about steel. You both gave the ' impression ' Price Waterhouse Cooper / PWC is ' dodgey' and the two were made for each other.

Price Waterhouse Cooper, one of the Big 4 accountancy firms , was the Labour Party's biggest non union donor last year. Two interesting stories to 'refresh' some memories.

www.bbc.co.uk/news/uk-politics-31162869

www.theguardian.com/politics/2014/nov/12/pricewaterhousecoopers-tax-structures-politics-influence

A good read and a reminder 'We are all in it together'

This will never be agreed on, some care that taxes are not paid but could make such a difference to the homeless, disabled, the closure of women's refuges, the fact the NHS is being privatised , others think it right as much tax as possible should be avoided and no matter the above because it doesn't affect them personally

You make it sound so simple dj, bit like waving a magic wand! I'm afraid changing the environment is like most things, easier said than done, as all politicians discover when they actually have to do something instead of just saying it. Perhaps Jeremy and Co have this magic wand to create this perfect society but I doubt it, and lots of people will be disappointed, as they have in the past by labour governments.

Cameron doesn't debate. He's just nasty and has a pack of hyenas behind him, egging him on. They'll stop if Vote Leave win the referendum. But they will not.

I do not believe in stringing people up. Rehabilitation can work much better.
Lots of people who do the wrong thing do so because of the environment they are in. Change the environment. Make those who are found to be doing wrong redundant. They will have enough money to live on in their tax havens to not add to the unemployment figures.

Why not just string 'em up?

www.taxresearch.org.uk/Blog/2016/04/13/the-big-4-in-the-firing-line/

This is a good idea.
Take the big four accountancy companies out of tax havens and the problem will all but disappear.
You take them out of the equation by refusing to give them government contracts unless they do it. Then you will find where their loyalties lie.

No, neither was mine.

My post was nothing to do with your posts Granjura.

Sorry djen, but Corbyn just doesn't 'cut it' on the floor of the House at PMQ's and he never has.He is well out of his comfort zone ( rallies of the faithful) and is not a debater at a high level.Not his fault, no doubt does his best, but a really good leader of the Opposition could have reduced Cameron to rubble after the last few weeks, and Corbyn just looks ineffectual.

The excited left wing?

If you re- read the quotes I've just posted - they are all FROM DAVID CAMERON HIS VERY SELF- has he turned into an excited left-winger?

Yes, it was so obvious from the hysteria that some were hoping for so much more than actually happened - some (well one) even stopped posting presumably out of petulance!

"Here’s a quick summary of David Cameron’s responses at Prime Minister’s Questions on what the Conservative Government is doing to stop tax avoidance. Full details are here.

He said: A European Commission proposal for country-by-country tax reporting, so that companies must declare where they make their profits in the European Union and in blacklisted tax havens, was put forward by Jonathan Hill, a commissioner appointed by the Conservative Government.

But Conservative MEPs have voted against it.

He said: The Conservative Government has put more than £1 billion extra funding into HM Revenue and Customs, to make it better able to collect tax.

But this is over a five-year period (so far) and the total funding cut over the same period is £6 billion, according to HMRC itself.

He said: The number of people in full-time equivalent posts in HMRC went from 25,000 in 2010 to 26,798 in 2015.

But this bears no relationship to HMRC’s own figures, which suggest a reduction from 70,700 in 2010 to 52,000 in 2016.

He said: A public register of ‘beneficial ownership’ of companies is being set up in the UK and its dependencies, such as Jersey and the Cayman Islands.

But in the UK this register will not be available to members of the public – just to domestic authorities, financial institutions and non-financial businesses and professions undertaking customer due diligence.

But on Jersey this register was created only in response to a need for information regarding terrorist activities.

But on all Crown dependencies (including Jersey and the Cayman Islands) this register will only be accessible by law-enforcement agencies."

This is what you call Cameron wiping the floor with Corbyn, is it?

How sad.

A few days ago, the excited left wing on here were hoping for,what? Cameron to stand down/ an emergency GE? Now that it is shown that Cameron did nothing wrong, and he is here as long as he wants to be, there is great disappointment and a knashing of teeth! So, there is a casting around to see what else can be thrown at Cameron, we have already had a charge of arrogance, and another charge of leaving a child behind in a pub after a family meal, now another about his wife owning some land that could prove lucrative.
Any minute now there will be a cry of 'all property is theft'!

David Cameron has been accused of hypocrisy after he admitted he did have a profitable stake in his father’s offshore investment fund, despite previous statements condemning aggressive tax avoidance as “not morally acceptable”.

In the past Mr Cameron has been critical of tax avoidance and Downing Street staffers have made clear his contribution to tackling tax evasion as a key part of his economic plan.
Read more
David Cameron admits he had a stake in his father's offshore fund

John Mann, a Labour MP and member of the Treasury Select Committee, said the admission by the Prime Minister should lead to his resignation. He added: “So during the 2010 General Election campaign Cameron failed to declare offshore shares. Get out now hypocrite.”

Here are some of the Prime Minister’s past statements on tax avoidance:
On Jimmy Car, June 2012

An investigation by The Times into tax avoidance, in 2012, exposed a single Jersey-based scheme that shelters £168 million a year from the taxman. The comedian Jimmy Carr is understood to be the largest beneficiary of the K2 tax scheme.

“Frankly some of these schemes where people are parking huge amounts of money offshore and taking loans back to just minimise their tax rates it is not morally acceptable,” Mr Cameron said.
World Economic Forum, January 2013

“We want to use the G8 to drive a more serious debate on tax evasion and tax avoidance”
Good Morning Britain, January 2013

“Tax avoidance, in these cases, of very aggressive tax avoidance schemes they are wrong and we should really persuade people not to do them.”
G8 Summit, June 2013

“You have to collect the taxes that are owed. That is only fair for companies and people who play by the rules and it’s vital for developing economies too.

<iframe src='//players.brightcove.net/624246174001/82f79524-152c-485f-bcb0-09197a216c87_default/index.html?videoId=4837200704001' allowfullscreen frameborder=0></iframe>

again and again

Are you also sick and tired of Cameron saying it, again and again?

Whitewave. Granjura et al on Non Dom Status.

It was widely spoken of and reported on , Non Dom Status is to be abolished in 2017. If it goes through and no reason why not, the first time any government has made substantial changes.

www.gov.uk/government/consultations/reforms-to-the-taxation-of-non-domiciles/reforms-to-the-taxation-of-non-domiciles

That HMRC connection is....... What really? Sickening?? that made me laugh.

Daphne, you might like to look at that last link.

Cameron said things about his family when talking about tax avoidance. He said Sam owned a field in Scunthorpe and that was all.

This is the field.

voxpoliticalonline.com/2016/04/13/massive-business-profits-likely-from-sam-cams-field-in-scunthorpe/

voxpoliticalonline.com/2016/04/13/cameron-still-cant-give-a-straight-answer-on-tax-avoidance-after-weeks-of-pressure/

Obviously you watched a different PMQ from me, roses.
Fullfact do not agree with you either.

fullfact.org/economy/tax-evasion-and-avoidance-border-control-and-school-governors-prime-ministers-questions-factchecked/
Just thought I ought to put this on asgain as you obviously missed it.

All Cameron can do is make cheap jibes at Corbyn, and others are getting heartily sick of it.
Cameron did not answer the questions. Again. He never does.

HMRC is run by someone who used to work for the accountants who enabled Cameron's dad to get away with not paying taxes.
That's okay by you, is it?
I find it sickening.