Dirty Tax avoiding b*stards

[ozleicester]

I didnt see anything here about it.

 

Its not bad enough the selfish money grubbing pricks sent us in to global financial disaster, then were propped up and paid out while millions lost, jobs,houses, families and even lives, and now they just continue to take the pi$$.

 

will anyone do anything, or are well to apathetic?

 

http://www.ibtimes.co.uk/lux-leaks-jean-claude-juncker-facing-credibility-crisis-after-latest-luxembourg-tax-avoidance-1473543

[Webbo]

If the companies have done anything wrong they should be done. If what they've done is legal what's the problem?

[Buce]

If the companies have done anything wrong they should be done. If what they've done is legal what's the problem?

Because it's immoral: the ones who should be paying most tax are paying the least by being able to afford top accountants to find loopholes. You can't avoid your taxes; I can't avoid mine. So once again they are robbing the poor to pay for the rich.

As Oz says, they are taking the piss.

[Jon the Hat]

You could avoid maying UK taxes if you chose to - move somewhere else.  Companies are obviously move flexible on being able to genuinely do this.  However, companies which move ownership and then avoid tax should be looked at very carefully, and in many cases are being.  Eg if your company sells its brands to a company in Luxembourg / Switzerland, and then they make profits from royalties which were not failry reflected in the the value you sold them for, then the sale transaction should be revisited and taxed at a higher value.

[Tommy G]

This has been done to death, tax avoidance isn't illegal but tax evasion is.

 

Tax avoidance is the legal usage of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar, and tax havensare jurisdictions which facilitate reduced taxes

 

Have you ever paid a carpet fitter in cash, or a painter etc?

 

Just the same ''morals'' but on a smaller scale. It happens, always has and always will so there isnt really much you can do about it.

[Raj]

if i could pay less tax and get away with it then i would...all of us would

[leicsmac]

This has been done to death, tax avoidance isn't illegal but tax evasion is.

 

Tax avoidance is the legal usage of the tax regime to one's own advantage, to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar, and tax havensare jurisdictions which facilitate reduced taxes

 

Have you ever paid a carpet fitter in cash, or a painter etc?

 

Just the same ''morals'' but on a smaller scale. It happens, always has and always will so there isnt really much you can do about it.

 

Then maybe it's about time the law was changed to make tax "avoidance" more difficult too?

[Tommy G]

Then maybe it's about time the law was changed to make tax "avoidance" more difficult too?

 

Well it is changing but unfortunately there are new tax schemes being created daily by clever accountants who get round HMRC. It will then take a while for any schemes to go to court to be challenged, its all a big legal faff.

 

At the end of the day, you can argue to the hilt about companies paying low levels of corp tax. If you make a pound you make a pound, if a company isnt paying tax then they money will go two ways - to the shareholders or further investment.

 

Shareholders - The individuals will become richer, and then spend their money on consumer products, fuel, fags, booze whatever, majority of these kind of taxes are higher than the current CT rate anyway.So our country will coin it in that way through Excise duty, VAT etc etc

 

Investment of the business - The company may use that additional tax saving to invest in the infrastructure of the business, whether machinery or workforce. They will be creating business for other companies or a job for other people, at which the individual will pay tax at 20/40/45% plus NI and Ers NI for the business.

 

I think its too narrow minded to look at Corporation tax in isolation, its not neccessarily fair but doesnt mean the UK tax system isnt benefitting somwhere else down the line.

[ADK]

That's a poor argument.

[Guest MattP]

In answer to the question no one is really bothered no. They should be but that's people these days.

 

If this was a national position Juncker's job would be untenable but as he's at the top of the EU train he's accountable to pretty much no one and he's got enough cronies around him to see off any challenge he'll face from MEP's.

 

Absolutely nothing will happen to him, it's laughable but we should be used to it by now.

[Rincewind]

If the top people evade paying the correct amount of tax the Government will recover the shortfall from somewhere else. Most likely the  middle to low paid workers which I would think includes the majority that post on here.

Everyone is shafting one another in some way and there is bugger all we can do about it.

[Buce]

Everyone is shafting one another in some way and there is bugger all we can do about it.

Not entirely true: naming and shaming these companies enables us to join a consumer boycott, like the successful campaign against Starbucks.

[Sir Fynwy]

if i could pay less tax and get away with it then i would...all of us would

I have no problem with paying tax, I live in a society that gives me a reasonable lifestyle with decent fallbacks, I could claim more of my business expenses back, use more tax effective savings plans etc but at the end of the day the extra I pay doesn't worry me. That said I would like to think that big corporations would pay their way which would mean less coming out of my pocket as direct taxation but I'm sure prices for goods would go up so the corporations could continue to make profits.

[Captain...]

It's like anything we need to adapt to the global changes to business and either we need to set a global tax laws so that people are not setting up HQs in tax havens and funnelling all profits through that. If that isn't possible then we need to look at other fairer ways of recouping tax and ways that we can control at a national level.

[MooseBreath]

It just needs people to keep taking an interest. If people are interested then the media will report it. If the media report it then everyone knows about it, and like Buce says people can and will then choose to use other companies. That will force companies to change, which is what we're seeing with increased focus on social responsibility in most of our large corporations. If people only want to use companies that pay fair tax, then that's what the market will provide. Capitalism is brilliant like that. Much more effective than wishy washy regulation that can easily be worked around.

[Strokes]

If I had a business and had an option to avoid tax, I would. As Tommy said, most people have either paid someone cash in hand, for a cheaper price, or made a tidy profit on a deal and not declared it.

Maybe if we didn't have such ridiculously high tax rates, business from abroad might pay tax here for business elsewhere.

[Sir Fynwy]

If I had a business and had an option to avoid tax, I would. As Tommy said, most people have either paid someone cash in hand, for a cheaper price, or made a tidy profit on a deal and not declared it.

Maybe if we didn't have such ridiculously high tax rates, business from abroad might pay tax here for business elsewhere.

You do know that we have far lower business taxes than places like the US?

[Strokes]

You do know that we have far lower business taxes than places like the US?

I do, they are still very high. I also don't agree with the higher earnings tax rate either but that's a different conversation.

[Sir Fynwy]

I do, they are still very high. I also don't agree with the higher earnings tax rate either but that's a different conversation.

I pay higher rate tax because I earn good money and don't begrudge it, 50% for earning over £150k would seem fair enough to me

[lavrentis]

Tax is theft 

[Sir Fynwy]

Tax is theft

Using roads, NHS, any other public service without paying is theft

[Strokes]

I pay higher rate tax because I earn good money and don't begrudge it, 50% for earning over £150k would seem fair enough to me

150k, yeah I might be ok with it then. My salary will be close to 35k with bonuses and overtime this year, next year it would surpass it. I might however send the missus to do more hours and rein mine in, to keep it under, as we will benefit much more. 35k is pittance and should be nowhere near super tax.

[Sir Fynwy]

150k, yeah I might be ok with it then. My salary will be close to 35k with bonuses and overtime this year, next year it would surpass it. I might however send the missus to do more hours and rein mine in, to keep it under, as we will benefit much more. 35k is pittance and should be nowhere near super tax.

You don't pay high rate tax at 35k

Edit: maybe I'm wrong, should look at bands more often[emoji4]

Edit 2: no I'm right Example

You earn £35,000 of taxable income and your Personal Allowance is £10,000. You pay basic rate tax at 20% on £25,000 (£35,000 minus £10,000).

[Strokes]

You don't pay high rate tax at 35k

Edit: maybe I'm wrong, should look at bands more often[emoji4]

Edit 2: no I'm right Example

You earn £35,000 of taxable income and your Personal Allowance is £10,000. You pay basic rate tax at 20% on £25,000 (£35,000 minus £10,000).

Once I go above £35k I'll be paying it, im pretty sure that's right. I've never got close to it on paye before so can't be certain.

[ADK]

It's £41,865 and only applies to any money earned over that amount.

 

You ought to be in favour of a tougher stance on tax avoiders. If the rich paid their share then you would either get a tax cut or better services.