On the fiddle.

[davyboy 18]

Out of curiosity Ontarian. 

Why have you not taken Canadian citizenship?

[Cyclone 10]

15 hours ago, ANGELFIRE1 said:

I think Alberts gripe is that said individualls are held up to be the pillars of our society, but live abroad and pay bugger all tax. While we the surfs with ordinary mundane jobs are clouted for tax at every opportunity. It is rather annoying, don't you think.

 

As for our fiddling Politicians, apart from a very unlucky few, let's be honest they got away with murder, we know it, they know it and probably laugh at us while eating their subsidised grub and subsidised ale.

 

Although if Angel1 won the euro millions, be assured he would scarper faster than a rat up a drain pipe.

 

Angel1.

Who's holding them up as examples?

 

Lots of people live abroad, are they all somehow at fault for not living here and paying UK taxes?

[L00b 441]

3 hours ago, Cyclone said:

Who's holding them up as examples?

Plebes instructed to do so by mass media, frequently as not leaning to the right side of politics?

 

It's not the first time posters need reminding that residence dictates tax liability, and that aggregate length of time lived in a country over a period of time (typically, a year) defines residence.

 

Generally speaking, that is, because there are all sorts of complicating exceptions to the principle. E.g. US citizens (liable to US tax even when living overseas), foreign property owners (frequently liable for local income/property taxes), border workers (where dual taxation treaties involve balancing tax liabilities), etc.

 

Or they can, you know, just continue looking at jet-setters in pictures and let envy get the better part of their judgement 

[woodview 10]

I think the problem here is the wrong person started the thread. Si certain individuals feel duty bound to disagree, regardless.

I think it's bad the ultra wealthy are able to avoid paying tax like that.

It's legal of course, but 'most' people will frown upon it, especially when looking at their own tax bill.

[L00b 441]

27 minutes ago, woodview said:

I think the problem here is the wrong person started the thread. Si certain individuals feel duty bound to disagree, regardless.

I think it's bad the ultra wealthy are able to avoid paying tax like that.

It's legal of course, but 'most' people will frown upon it, especially when looking at their own tax bill.

There's no wrong poster problem that I can see. Only a wrong premise.

 

The fundamental problem, is that tax laws have long grown so overly complex, to the extent that any new closure to a loophole, opens 5 or 10 new loopholes.

 

Wealthy people are better-placed to afford specialist legal advice, often as not dispensed by ex-Treasury types who have served the least possible duration in public service before jumping out to the private tax consulting sector.

 

If you want to solve the problem, repeal the lot and start again from a clean sheet. Of course, that means binning every last corporatist, sectoral or otherwise special advantage, across the board.

[Ontarian1981 10]

9 hours ago, davyboy said:

Out of curiosity Ontarian. 

Why have you not taken Canadian citizenship?

You can be a dual citizen in Canada as you can in the UK.However I have just never got around to seeking citizenship in Canada. I am a permanent resident and I have the same rights as a citizen except for voting in a Federal election and working for the Federal government.

Edited March 8, 2019 by Ontarian1981

[El Cid 214]

1 hour ago, L00b said:

The fundamental problem, is that tax laws have long grown so overly complex, to the extent that any new closure to a loophole, opens 5 or 10 new loopholes.

1

Surely it's more that people are wealthier and more mobile?

I am not one for foreign holidays myself, but if you were and you had £500,000 that you wanted to 'offshore', surely it would be easy.

You could plan it all online and then when you holiday in Jersey, Bobs your Uncle.

[Cyclone 10]

5 hours ago, woodview said:

I think the problem here is the wrong person started the thread. Si certain individuals feel duty bound to disagree, regardless.

I think it's bad the ultra wealthy are able to avoid paying tax like that.

It's legal of course, but 'most' people will frown upon it, especially when looking at their own tax bill.

What do you mean by "avoid paying tax".

They literally go and live somewhere else and pay tax under the laws of their new country of residence.

Do you think it should be illegal to move away from the UK, or only if you're rich?

3 hours ago, El Cid said:

Surely it's more that people are wealthier and more mobile?

I am not one for foreign holidays myself, but if you were and you had £500,000 that you wanted to 'offshore', surely it would be easy.

You could plan it all online and then when you holiday in Jersey, Bobs your Uncle.

You're talking about tax evasion, which is an entirely different subject to simply moving to Monaco isn't it!

[woodview 10]

3 minutes ago, Cyclone said:

What do you mean by "avoid paying tax".

They literally go and live somewhere else and pay tax under the laws of their new country of residence.

Do you think it should be illegal to move away from the UK, or only if you're rich?

You're talking about tax evasion, which is an entirely different subject to simply moving to Monaco isn't it!

Cool. Your right wing credentials take a boost. You go ahead and defend the Uber rich not paying a jot of tax.

Lots of people baulk at the idea, but you can bang on about the legality of it.

[carosio 186]

BT Money on offshore banking:

 

"Offshore banking isn't just available to the rich and powerful; it's open to everyone.

Many well-known names have international arms based just off our shores in the Channel Islands or the Isle of Man.

But are the interest rates on these savings accounts any better than on the high street?

The rules

Anyone can open a savings account offshore. You just need to be able to provide the usual personal details and ID.

However, you may need to have a large amount of money at your disposal as many offshore accounts have pretty high opening balances of £5,000 to £10,000. But that isn’t always the case, with some accounts only requiring £1.

With an offshore account your interest will be paid to you gross. This differs from UK banks that automatically deduct 20% income tax, unless you notify them that you aren’t liable for it.

With offshore accounts you will need to declare the income on your tax return. Because income tax isn’t immediately deducted this may mean you can enjoy bigger returns than you would on a UK bank account."

 

You wouldn't be protected by the FSA compensation scheme though.

[WiseOwl182 10]

On 07/03/2019 at 12:34, Hotmale 1954 said:

If you had that sort of money, would you live in this Tory run dump?

They're not daft these super rich geezers.

They vote for, and financially support the Tories to keep them in, so that May and her cronies can continue to ruin our once great country, whilst they get out as fast as they can, to a place that's run a damn sight better.

Simples!

You have a large chip on your shoulder, and you're obsessed. Simples!

[Ms Macbeth 73]

Although lots of the super rich British born may no longer live here hence don't pay UK income tax, they may be providing many jobs, paying business taxes etc., all of which helps our economy.  Being mega rich opens up opportunities to live where you choose.  

 

Don't see how living elsewhere is considered to be on the fiddle.