[News] What SECRETS do the PARADISE Papers hold ?

[Buzzer]

Yes it’s a spelling error. My bad. I of course meant corporations. Depends how meagre the salary. Store managers, shift supervisors etc pay tax. So I ask again, why should they pay tax if the company actively avoid doing so?

Spot on. And conversely why should people or corporations who deliberately avoid paying UK taxes be allowed to take part in our democratic processes or make donations to our political parties?

 

[Thunder Bolt]

Before digital cameras, I used to buy film and get my photos developed in Jersey because it was cheaper due to the VAT.
I suppose that makes me guilty, just like the workmen who do jobs for cash in hand.
All self employed ask their accountants to find ways to pay as little tax as possible.
Tax avoidance isn't illegal, but if we're talking immoral, then morals count whether the amount is minuscule or massive.

 

[Beach Hut]

Thought that was what I said in the last line (I believe now that he wasn't defending, simply observing).

Indeed you did, I was probably looking for another typo to try and take advantage of.

 

[Wardy's twin]

Do we have a section on shared lifts to away games

Anyone looking for someone to share petrol costs for trip to man u?

 

[portlock seagull]

Nothing any of these individuals or organisations have done is illegal. Immoral possibly. If governments cracked down on tax loopholes then the whole problem would go away. Of course governments don't because it's the government individuals and their mates that benefit from the loopholes and that covers ALL political parties !

You do understand that the same people not breaking the rules make them? I mean, you get that? Right?

 

[n1 gull]

You've been " mugged off" for the grand total of 56p.

Not sure how you work out its 56p. Is that 56p per person per year?

 

[n1 gull]

Before digital cameras, I used to buy film and get my photos developed in Jersey because it was cheaper due to the VAT.
I suppose that makes me guilty, just like the workmen who do jobs for cash in hand.
All self employed ask their accountants to find ways to pay as little tax as possible.
Tax avoidance isn't illegal, but if we're talking immoral, then morals count whether the amount is minuscule or massive.

I disagree. If a relatively small company or self employed person is looking to get a small advantage by paying less tax that is not like hoarding cash off shore.

The chances are the self employed person will just spend that cash in the local economy, buying more tools, Tesco, petrol, employing more staff or whatever.. Its when the money is taken out of the economy to sit in an off shore account - to me that is morally wrong

 

[beorhthelm]

I disagree. If a relatively small company or self employed person is looking to get a small advantage by paying less tax that is not like hoarding cash off shore.

so buying from Arthur Daley Photo Services Ltd in Jersey is fine, but buying from Amazon Records Ltd in Jersey isnt, just because its a bigger company? if we're going to have moral outrage, we should at least be consistent. also why do you think money is being horded off shore? thats just the location of the company operating a fund, the money is invested into businesses in the UK and elsewhere, hence the implication of owning Brighthouse and Threshers.

 

[nicko31]

Lots of bed wetting over the queens investments this morning. A small part of her portfolio offshore, not uncommon at all in many pension funds. There will be bigger fish to fry in this leak

Government will be glad this diverts the attention away from sleaze gate and Brexit

 

[skipper734]

Not sure how you work out its 56p. Is that 56p per person per year?

That is apparently what The Queen and her squad costs each person per year. Sorry 65p. http://www.bbc.co.uk/news/av/uk-40425569/reality-check-what-does-the-queen-cost-us

 

[n1 gull]

That is apparently what The Queen and her squad costs each person per year. Sorry 65p. http://www.bbc.co.uk/news/av/uk-40425569/reality-check-what-does-the-queen-cost-us

Sounds like a lot of money to me - I'd rather spend it on the NHS

 

[vegster]

It's always happened and will keep on happening I'm afraid. I recently had a "health check" of my banking at Natwest and they managed to get me a savings account that pays 1.5% as opposed to my previous 0.25%...
So now I'm only losing 1.5 % per annum thanks to inflation.

Now if I had 10 million Pounds instead of 5 K in savings I wonder where they would have suggested I put my money?

 

[Weststander]

I disagree. If a relatively small company or self employed person is looking to get a small advantage by paying less tax that is not like hoarding cash off shore.

The chances are the self employed person will just spend that cash in the local economy, buying more tools, Tesco, petrol, employing more staff or whatever.. Its when the money is taken out of the economy to sit in an off shore account - to me that is morally wrong

Tax laws are very clear.

If a self employed person doesn't include all his income through the books, or puts personal expenditure through the accounts, that's tax evasion.

If a hackney carriage owner/driver doesn't declare £10k of his cash takings every year, is that morally more acceptable than a wealthy individual doing the same but multiplied up?

 

[n1 gull]

Tax laws are very clear.

If a self employed person doesn't include all his income through the books, or puts personal expenditure through the accounts, that's tax evasion.

If a hackney carriage owner/driver doesn't declare £10k of his cash takings every year, is that morally more acceptable than a wealthy individual doing the same but multiplied up?

Of course you are right and you can't legally argue a case against what you have stated. The law is the law. My point is although evading tax is wrong if its done on a bigger scale it has a knock on affect on society as that money doesn't get recycled into the economy where as if the local window cleaner doesn't declare a few quid that will probably end up getting spent in shops etc.. I know that is an overly simplistic explanation and doesn't make it right

 

[Lower West Stander]

Haven't read the whole thread but I think this whole thing is hysterical.

Bed wetting over offshore investments? You mean people use offshore tax havens to shelter cash? Wow - who'd have thought it?

I reckon we'd all do if we could (apart from Corbyn and McDonnell obviously) - and the hypocrisy is amazing. How many of us have pensions that invest in offshore vehicles? Companies that borrow in tax friendly jurisdictions?

The Daily Mail is outraged - wonder where the Rothermeres keep their money?

 

[Deleted member 22389]

Haven't read the whole thread but I think this whole thing is hysterical.

Bed wetting over offshore investments? You mean people use offshore tax havens to shelter cash? Wow - who'd have thought it?

I reckon we'd all do if we could (apart from Corbyn and McDonnell obviously) - and the hypocrisy is amazing. How many of us have pensions that invest in offshore vehicles? Companies that borrow in tax friendly jurisdictions?

The Daily Mail is outraged - wonder where the Rothermeres keep their money?

Completely agree. I wonder what the focus will shift too next week.

 

[Jim D]

Completely agree. I wonder what the focus will shift too next week.

Tax evading perverts fiddling their expenses?

 

[rippleman]

This could be really big news. If the Queen / royal family is on a tax evasion scheme they can all do one. I love the fact as tax payers we do up their palaces and then they say its about tourism blah blah blah - do you ever feel like you've been mugged off, I do?

It is avoidance. Not evasion. The former is lawful the latter is illegal.

Cameron kept banging on about how avoidance was "immoral" but of course he didn't do the obvious thing which was to bring in legislation to make it illegal and therefore a criminal offence. I wonder why?!!

 

[Two Professors]

I am absolutely amazed that neither Tony Bliar or Gordon Brown cracked down on this when they ran the government...........not.

 

[beorhthelm]

Haven't read the whole thread but I think this whole thing is hysterical.

Bed wetting over offshore investments? You mean people use offshore tax havens to shelter cash? Wow - who'd have thought it?

I reckon we'd all do if we could (apart from Corbyn and McDonnell obviously) - and the hypocrisy is amazing. How many of us have pensions that invest in offshore vehicles? Companies that borrow in tax friendly jurisdictions?

The Daily Mail is outraged - wonder where the Rothermeres keep their money?

there is an assumption that any off shore company is avoiding or evading tax. the media stories completely overlook offshore companies can be used simply to hold multiple company for those in other countries to invest. so someone from UK, US, France, Brazil, Japan can all put money into a fund. the companies involved may all be paying taxes in their original country.