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Post by flean on Nov 5, 2017 18:34:00 GMT
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Post by concretebob on Nov 5, 2017 18:35:40 GMT
Investments in BrightHouse too. The company criticised for exploiting poor people.
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Post by ox4eva on Nov 5, 2017 18:52:16 GMT
God bless the Queen
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Post by flean on Nov 5, 2017 18:58:58 GMT
How do you feel about bankers and politicians evading tax and having offshore instruments to make them even richer?
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Post by makv on Nov 5, 2017 19:15:21 GMT
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Post by helsinkiyellow on Nov 5, 2017 19:20:38 GMT
But if the Queen paid tax, then the tourists would stop visiting!
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Post by Paul Cannell on Nov 5, 2017 19:21:18 GMT
Time to finally get rid and become a Republic. Poor show. You'll be wanting justice next. Boooo! Gayer! Kill yourself before you damage England even more.
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Post by flean on Nov 5, 2017 19:33:03 GMT
I'm a safe distance away, watching on in a good old Republic!
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Post by grenobleroad on Nov 5, 2017 19:34:43 GMT
I like the queen, as long as it's not illegal then I'm not too fussed.
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Post by Paul Cannell on Nov 5, 2017 19:37:46 GMT
I'm a safe distance away, watching on in a good old Republic! Don't visit the relatives too much. There are Loyal Boys on this forum.
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Post by flean on Nov 5, 2017 19:39:44 GMT
I'm a safe distance away, watching on in a good old Republic! Don't visit the relatives too much. There are Loyal Boys on this forum. Good point. Best not to pack my half Celtic half St Pauli scarf then.
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Post by oldham on Nov 5, 2017 19:43:09 GMT
Don't visit the relatives too much. There are Loyal Boys on this forum. Good point. Best not to pack my half Celtic half St Pauli scarf then. Oh go on, we could all do with a giggle 😜
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Post by flean on Nov 5, 2017 19:52:45 GMT
Good point. Best not to pack my half Celtic half St Pauli scarf then. Oh go on, we could all do with a giggle 😜 Alright, why not then. With or without Liverpool hat?
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Post by Paul Cannell on Nov 5, 2017 19:55:19 GMT
Have asked Santa for Celtic socks to match the also requested OUFC shorts for walking footy.
Will still be wearing the Dicky and bow tie; one has to maintain standards.
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Post by saddletramp on Nov 6, 2017 8:52:51 GMT
Funny how many people criticise rich people for tax avoidance,which is perfectly legal. But have no qualms about working "cash in hand" in other words tax evasion,which is illegal. Before 1990,you had a married mans tax allowance,so in effect getting married was a tax dodge. When i bought my first house in 1983,their was something called MIRAs,which was basically you got tax relief on the first £25K (a tax dodge)of your Mortgage to encourage people to buy houses. This was then adjusted so unmarried couples could pool their income up to £60k. So if you were a married couple you could only participate in the tax dodge up to £30k,if you got divorced but still lived together you could double that ?? !! So getting divorced could be seen as tax avoidance
MIRAs was not abolished till 2000.
So anybody obtaining a mortgage before the year 2000,actively participated in tax avoidance.
This scheme was not compulsory,you could inform HRMC that you did not want to participate in this Tax Avoidance.
Jeremy Corbyn,for all his faults,was one of a handful of people that informed HRMS that he wanted to pay the full tax on his mortgage.
So unless you refused tax relief on your mortgage,the moral high ground is not yours to take.
You ACTIVELY participated in a tax avoidance scheme,to further your ambition of owning your own home.
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Post by saddletramp on Nov 6, 2017 9:13:07 GMT
How do you feel about bankers and politicians evading tax and having offshore instruments to make them even richer? If i had the money,it's just what i would do. Do you know what an ISA is ? It's a Tax AVOIDANCE savings scheme. You can invest up to £20,000 pounds per annum TAX FREE. 12.7 Million people took out ISA's in Britain last year. That was down from 13 million the year before Over £80 BILLION was invested in ISA's last year alone. www.bbc.co.uk/news/business-37193801I really don't see the difference between,(because they can afford it), someone investing £20 million abroad to avoid tax. To someone else who cant,investing £20k in an ISA. ISA's have been around since 1999,if you opened one every year,you would have an awful lot of "tax free" cash in them by know The amount of money is irrelevant. It's all tax avoidance,which is totally legal.
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Post by flean on Nov 6, 2017 9:23:18 GMT
Not having a mortgage or an ISA I'm as ethically clean as Corbyn Good points though. The problem is with the law, however, does the monarchy really need to cheat it's population out of money twice?
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Post by chippsy on Nov 6, 2017 9:42:29 GMT
How do you feel about bankers and politicians evading tax and having offshore instruments to make them even richer? If i had the money,it's just what i would do. Do you know what an ISA is ? It's a Tax AVOIDANCE savings scheme. You can invest up to £20,000 pounds per annum TAX FREE. 12.7 Million people took out ISA's in Britain last year. That was down from 13 million the year before Over £80 BILLION was invested in ISA's last year alone. www.bbc.co.uk/news/business-37193801I really don't see the difference between,(because they can afford it), someone investing £20 million abroad to avoid tax. To someone else who cant,investing £20k in an ISA. ISA's have been around since 1999,if you opened one every year,you would have an awful lot of "tax free" cash in them by know The amount of money is irrelevant. It's all tax avoidance,which is totally legal. Exactly right... I will use my annual ISA allowance and plough funds into my SIPP as well as utilise my annual capital gains tax allowance each year. All perfectly legal and simple tax avoidance . But it gets no headlines because the funds are not in their millions and I’m not famous. Being hammered on B2L legislation though. so I guess what goes around comes around. 😊
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Post by Marked Ox on Nov 6, 2017 10:31:58 GMT
I think the bigger concern is the allegations about Lord Ashcroft in the same programme considering his political influence in the Tory Party.
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Post by Boogaloo on Nov 6, 2017 11:25:07 GMT
With ISA's, if you are a law-abiding citizen, then you DO ACTUALLY pay tax on the money. I presume in most cases, the money you invest comes from money left over from your wage packet - a wage packet that is subject to tax in the for of income tax, which we all have to pay. The only exception to that is if you earn under the Personal tax free allowance of £11,500, and if that's the case - I'm amazed that you have money left over to invest in an ISA.
Back to the original topic - I've no problem with the queen avoiding tax. If I was super-rich, and my accountant told me about a legal way to cut my tax bill, then of course - I would be all ears. We all would.
Tax evasion is illegal. Tax avoidance is not.
As previously mentioned though, the real issue is that these tax avoidance schemes have not been blocked by the government. The government really need to get a grip on this, but considering the majority of the Tory party's donors are super-rich themselves and are probably making use of these schemes, you can understand their apathy on tackling this issue. Don't bite the hand that feeds...
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Post by Mark on Nov 6, 2017 12:11:33 GMT
ISAs seem now to be the way forward for the rich to build up a savings pot for retirement.
I can't speak for the rest of the forum, but who has a spare £20,000 EVERY year to put into an ISA? That would make a decent pot to fund your retirement and of course income and gains are tax free, and you can take out as much money as you like tax free.
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Post by Gary Baldi on Nov 6, 2017 13:00:18 GMT
Sadly, companies and individuals of a certain value are all at it and most of us would do the same thing if we could.
I hope everyone that owns an Apple product isn't getting too uppity about this issue. Apple have billions in cash offshore that they won't bring onshore to the US (or anywhere else) because they'll pay too much tax on it, and as a public company in the US, they are obliged to get the best value for their shareholders at all times. Hence Amazon's interesting tax deal in Luxembourg, or license agreements moving money in multi-nationals to pay tax in the most efficient way possible.
The system is full of the grey and allows people to easily abuse it. Don't hate the player, hate the game.
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Post by flean on Nov 6, 2017 13:18:42 GMT
It's curious that there seems to be a connection between acceptance / tolerance of tax avoidance and voting Brexit.
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Post by cj on Nov 6, 2017 13:44:01 GMT
You can earn up to £1000 tax free on a deposit account in interest now so if you are with RBS for example you can deposit £10m with them and pay no tax on interest earned. If you have £10m though putting on deposit with RBS will reduce it's value through inflation so not a great investment.
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Post by Gary Baldi on Nov 6, 2017 15:41:20 GMT
It's curious that there seems to be a connection between acceptance / tolerance of tax avoidance and voting Brexit. LOL. Still can't let it go I see?
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Post by whingit on Nov 6, 2017 15:51:03 GMT
It's a matter of patriotism for me. You can't love your country if you actively seek to reduce your tax bill. Tax pays for the education of our children etc, there's no excuse.
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Post by whingit on Nov 6, 2017 15:57:25 GMT
It's a matter of patriotism for me. You can't love your country if you actively seek to reduce your tax bill. Tax pays for the education of our children etc, there's no excuse. And there's a difference between government schemes that are created to reduce tax and the loopholes these millionaires use. Loopholes aren't supposed to be exploited.
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Post by tonyw on Nov 6, 2017 17:00:33 GMT
Way I see it, there's two reasons to maintain the monarchy:
1) Other nations love it, and it brings in tens or hundreds of millions of tourist $$s. Bet you'd see a downturn if Buckingham Palace was a monument rather than home to a living, breathing monarch.
2) If we didn't have a monarch, we'd have to elect a President. And we'd probably **** that up and end up electing some vacuous, morally dubious, reality star (like they have over here in the US).
A hereditary monarchy is a dumb idea in the 21st century.....but the alternatives would probably be worse. Pragmatism over principles.
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Post by essexyellows on Nov 6, 2017 18:34:14 GMT
If i had the money,it's just what i would do. Do you know what an ISA is ? It's a Tax AVOIDANCE savings scheme. You can invest up to £20,000 pounds per annum TAX FREE. 12.7 Million people took out ISA's in Britain last year. That was down from 13 million the year before Over £80 BILLION was invested in ISA's last year alone. www.bbc.co.uk/news/business-37193801I really don't see the difference between,(because they can afford it), someone investing £20 million abroad to avoid tax. To someone else who cant,investing £20k in an ISA. ISA's have been around since 1999,if you opened one every year,you would have an awful lot of "tax free" cash in them by know The amount of money is irrelevant. It's all tax avoidance,which is totally legal. Exactly right... I will use my annual ISA allowance and plough funds into my SIPP as well as utilise my annual capital gains tax allowance each year. All perfectly legal and simple tax avoidance . But it gets no headlines because the funds are not in their millions and I’m not famous. Being hammered on B2L legislation though. so I guess what goes around comes around. 😊 This! Unless you are "mega-rich" ...then its the legal tax avoidance for us normal folk. If you are mega-rich then you will generally be advised by folk that used to work at the Inland Revenue and, once they know the system & have written the rules, then bale out to such private companies that advise the very wealthy!! Its not a question of legality its more about morality....... and thats where it gets "grey".....how would Her Maj know that her off shore funds end up funding Brighthouse?
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Post by Gary Baldi on Nov 6, 2017 22:13:01 GMT
Good old Apple. Just the $252 billion in cash reserves that they've paid little tax on because they've moved it around the world through friendly countries like Ireland. All those anti-capitalists with their iPhones and iPads should be throwing them away right now in disgust. Not very patriotic to the US public is it? Nor the Irish public who are waiting for their govt to collect 14 billion Euros from Apple in unpaid taxes, who complain it's a bit complicated. Makes Take That's dodgy scheme pale in comparison doesn't it? www.bbc.co.uk/news/world-us-canada-41889787
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