Paradise Papers

Only for keeping taxes low

And now Charles exposed for conflict of interest - but oh bless him he has no direct involvement in the making of investment decisions. Do any of the rich and powerful ever take responsibility for anything?

infacts.org/voters-want-tax-haven-crackdown-staying-eu-best-bet/

If we leave the EU, it could turn the UK into a tax haven, for everyone but the residents.

Just seems immoral that when so many people have so much money they literally don't know what to do with it when there are people sleeping on the streets. That's in this country - one of the richest in the world. I can't say that I blame them for wanting to pay the minimum amount of tax so I guess that its the rules that need to be changed. But then again that would be like a turkey voting for Xmas. Not going to happen.

www.taxresearch.org.uk/Blog/2017/11/07/the-apple-taxapp-needed-on-the-itunes-app-store/

Do you reckon Apple will go for it?

lemongrove - they always find a way, ways even.

What is to stop you inviting your best friend on a very expensive holiday abroad, to play golf or skiing- with all the champagne, caviar, yachts, golf, sleigh rides and more... and give him gifts for his birthday or for Christmas - even if it happens to be a Cartier or a Rolex, an expensive suit with wads of cash in the pocket or a Vuiton bag with the same... etc, as well as for your spouse and other members of the family, etc.

I hope none of the shareholders in Next, Zara and Mango are involved in the Parasite Papers.
Apparently the workers are sewing messages inside the clothes saying they haven't been paid.

Did any of you watch the programme? And is it really fair that if you have enough money you can set up a fake company, term yourself an "Advisor" and lease to yourself (tax free) all the basic necessities of life, like a jet and a boat and a house and expensive wine? Whilst the poor all get their tax taken off before they even see their money.

Has anyone mentioned that the Queen is also 'head of state' of these offshore tax havens? Perhaps therefore she is entitled to invest in these outposts of empire? I don't really think we can object to anyone putting their wealth where they wish to, provided it is not illegal. What we, or rather the Treasury, should be doing is finding ways to close these loopholes and pronto!

Am not at all sure that perks can be hidden now, as they used to be, even when called ‘in kind’ or ‘benefits in kind’.
Thought that the tax people had put a stop to that.

Much of the money paid to those tax evasion/avoidance accountants is hidden 'in kind'

Yet when my DP got a company car it was taxed. What's the difference? Or, how do they get round the rules?

Much of the money paid to those tax evasion/avoidance accountants is hidden 'in kind' - all paid holidays to the Bahamas or Switzerland, etc, golfing, skiing- with champagne, caviar, and all- expensive watches, jewellery, cars even... and using those famous private jets from the Isle of Man, and much more.

They pay vast amounts to large accountancy firms who in turn lobby governments on their behalf, and any treasury official will confirm.

Those powerful wealthy have had direct influence on our tax laws.

dbDB77 - if it is shown, as it was in the Panorama programme and elsewhere- that Tax Laws have been influenced, dictated and even bought (via lobbying)- then it is clear that it is not 'fair'.

If people are allowed by those loopholes, which have been very clearly manufactured to do so- to 'give' billions away to offshore agents- to be re'borrowed' for free, without any interests ever being paid, to avoid paying tax - then it is clear that is should not be allowed and that something is very wrong- and we all know that- those who do the lobbying, manipulating and benefiting, more than anyone.

You need a completely separate set of people designing a tax system that would work and then working out how to change from one to the other. Hopefully the current opposition is doing just that.

(I have to say the Office for Tax Simplification brings the Ministry of Truth quickly to mind - or perhaps the Ministry of Plenty. No, go back to the first. The Ministry of Plenty is the DWP as it is, in fact rather than title, the ministry that looks after the starving in 1984)

What has been exposed is legal - and I don't feel I have a right to say what is "fair" and what is not. We need to simplify the tax rules and close the loopholes - and the NIC loopholes too - then individuals and companies won't be able to avoid their responsibilities to the same extent.
We do have an Office for Tax Simplification - this is from their website:
"The OTS was set up in 2010 and made a permanent independent office of HM Treasury on 21 July 2015. It has now been placed on a statutory basis in Finance Bill 2016."
But during their lifetime the tax code has increased and become more complex - I can hardly believe it - what are they doing?
Must say though that I get a bit of a schadenfreude thrill out of seeing celebs exposed in all their hypocrisy

I know it is well known that the Queen is a skinflint, pays very low wages and always knows the price of things like apples...to imagine that she has no interest in her investments is a bit unlike;y - she obviously turns a blind eye. I have no idea why the very rich are so greedy...but they often are. They can't take it with them - but they do take their reputation with them - through eternity. Which is why people like Lewis Hamilton who would rather be unloved and disrespected to keep a few more pounds are so stupid. And why Bill Gates is now so respected. And why Cherie Blair lost all our respect for her greed.
It took a long time and a lot of effort to get Her Madge to pay income tax some mere 20 years ago.

Lemongrove said:

'It’s legal, and until legal loopholes are closed if thought to be wrong ( and various governments haven’t wanted to do this) then accountants will continue their job of trying to make money for their clients.'

Did you watch Panorama? The thing is that it is legal- because the Law is influenced, via lobbying, self-interest and even payments (often in kind)- even dictated, by the very rich. Like the Law in the Isle of Man re Private jets and helicopters. And also that Brexit was a response to the EU preparing for a massive crack down on Tax Havens from 2019 (which happens, by chance hey- to be when we are supposed to leave) - by the ultra rich themselves (including Mrs May's husband and the offshore businesses he manages and benefits from).

Comparing 'giving' millions or billions to offshore accounts in Mauritius, Malta, Cayman Islands, etc- which is then 'lent' back for free and interests never re-paid- to people having a few ISAs is just plain non-sense.

Phewww I'm relieved to know that Jalima

What does "one" refer to us as now I wonder?

Guess what a number of HMRC's ex-employees do? They become tax advisors to the wealthy. They know the loopholes...

Years ago I was sent a leaflet showing where our LG pension money is invested, but haven't had an update recently.

Our tax laws do need simplifying; they were made overly complicated over the years so no wonder HMRC make mistakes and, as one tax officer told us, they really don't always know what they are doing.
That was at a time when they were trying to chase up pensioners and accusing them of paying too little tax over years - often found to be erroneous accusations - but then retired people were probably considered to be easy targets who would just pay up without argument.

So basically those who lean politically to the right say this is not an issue and leave the Queen alone, and those on the left think everyone should pay there fair share.
As an upright citizen, trying to stay vertical, I think every should pay their fair share including the Queen and I am sure she will hasten to do so now she has been alerted to the fact.
Should I start checking the source of my meagre pension and refusing to accept it? Actually, as it is a state-funded one I trust that they are doing the right thing and that it comes from ethical sources.

In future, I sure the Queen along with other members of the Royal Family will make absolutely certain that they are above squeaky clean; but what's done is done, you can't alter the past so what's the point in going on and on about one person who hasn't actually done anything illegal? Better to concentrate on closing gaps in the law to tackle future tax avoidance by those who are in a position to do so.
Mrs Brown's boys imo is an awful programme, I wouldn't pay any of the actors two pence never mind two million pounds or whatever it was!!!