| Manchester United Tax Avoidance 11:35 - Nov 16 with 4404 views | THEBUSH |
What a farce the whole European Community thing is becomIng, Luxembourg, Juncker,
tax avoidance by leading companies and now even Man U are involved, the whole thing is rotten to the core.
What an idiot I am, I used to believe in the free market principle, not any more, it's a corrupt system and where Europe goes from here, who knows ?
See below for more info, (taken from a well known newspaper.)
www.radicalsoapbox.com, has highlighted companies claiming tax relief on interest paid on loans that are either artificial or the cost of a leveraged buyout. It’s now de rigueur for companies as diverse as Boots, Heathrow Airport, Manchester United and privatised utilities to avoid tax. It need not be so as the UK government could set limits on the amount of tax relief that can be claimed, as is done in other major European countries
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| Manchester United Tax Avoidance on 11:56 - Nov 16 with 4345 views | kensalriser |
what's this got to do with the EU? |  |
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| Manchester United Tax Avoidance on 12:11 - Nov 16 with 4311 views | DWQPR |
So what is new about interest being able to be offset against tax for businesses? Even the average Joe that buys a property to let will get tax relief on interest payments. Whether you think it is right is another matter but it is a bone fide business expense. The OP might also be shocked to know that his employer gets tax relief on the payment of his salary. |  |
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| Manchester United Tax Avoidance on 14:37 - Nov 16 with 4172 views | THEBUSH |
| Manchester United Tax Avoidance on 12:11 - Nov 16 by DWQPR |
So what is new about interest being able to be offset against tax for businesses? Even the average Joe that buys a property to let will get tax relief on interest payments. Whether you think it is right is another matter but it is a bone fide business expense. The OP might also be shocked to know that his employer gets tax relief on the payment of his salary. |
The OP gets a state pension, as little as it may be and I still pay tax.
By your attitude, it seems your happy with the status quo, good luck mate, it's only gonna get worse. | | | |
| Manchester United Tax Avoidance on 14:45 - Nov 16 with 4155 views | THEBUSH |
| Manchester United Tax Avoidance on 11:56 - Nov 16 by kensalriser |
what's this got to do with the EU? |
If your interested, Jean-Claude Juncker is president of the European Commision, he's at the heart of all this tax free stuff for company's and ManU, look it up. | | | |
| Manchester United Tax Avoidance on 14:49 - Nov 16 with 4149 views | Lofthope |
I do marvel at how people spout on about tax when they know very little about it.
For a start, tax avoidance is legal, buying duty free booze when abroad is tax avoidance FFS!! Anyone who has done that is, arguably, a tax dodger.
Tax evasion is illegal. Now Gordon Brown spent his career blurring the distinction for political purposes and to be fair, as a consequence it is less clear even to experts these days.
However, artificiality in tax schemes has been dying since a series of high profile court cases in the early 1980s. Furthermore we now have a general anti-avoidance rule in statute. Artificial tax planning has effectively been dead for a few years despite the fact that some players still try and promote schemes. They usually come a cropper in court too.
The most obscene scheme I've seen in recent times is K2, the one Jimmy Carr is/was in. I bet he hasn't repaid his artificial loans!!!
One other thing that you may not realise, is that HMRC have all the laws they need to attack Starbucks' 'Transfer Pricing' yet appear to have failed to do so. Either Starbucks are not cheating or it is an HMRC failure, but it has been spun against Starbucks.
Never believe the press......BTW I rarely meet a journalist who understands tax either!
For a start, you may read about a case currently in the courts, Ingenious Film Partners 2 v HMRC. This investment/scheme (depending on your view) was a 2005 scheme but if you read the Sunday Times you'd be forgiven for thinking it's contemporary. so, in 10 years time when HMRC finally (and rightly) take Jimmy Carr's K2 scheme to court will he care?
But of course, if you believe that 'radical Soap Box' dot com is an authority on the technicalities of tax and has no political agenda, who am I to challenge your dogma? | | | |
| Manchester United Tax Avoidance on 15:09 - Nov 16 with 4121 views | DWQPR |
| Manchester United Tax Avoidance on 14:37 - Nov 16 by THEBUSH |
The OP gets a state pension, as little as it may be and I still pay tax.
By your attitude, it seems your happy with the status quo, good luck mate, it's only gonna get worse. |
Then the OP when in employment was paid a salary which was tax deductible by his then employer. Hopefully the OP was also in an occupation whereby he enjoyed the benefits of an occupational pension whereby his contributions were tax deductible against income and if he was lucky and earned above the higher rate threshold would have enjoyed higher rate relief, and at retirement would have also enjoyed a sum of money that was paid out initially which was tax free. The thing is companies have tax breaks to reduce their liabilities as individuals do and if you read previous posts of mine about the EU you will find that the word 'euro-sceptic' undermines my feeling on this joke of democracy. | |
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| Manchester United Tax Avoidance on 16:04 - Nov 16 with 4076 views | kensalriser |
| Manchester United Tax Avoidance on 14:45 - Nov 16 by THEBUSH |
If your interested, Jean-Claude Juncker is president of the European Commision, he's at the heart of all this tax free stuff for company's and ManU, look it up. |
The accusations levelled at Jucker relate to his former positions in the Luxembourg Government, not his current position. | |
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| Manchester United Tax Avoidance on 16:14 - Nov 16 with 4062 views | THEBUSH |
| Manchester United Tax Avoidance on 16:04 - Nov 16 by kensalriser |
The accusations levelled at Jucker relate to his former positions in the Luxembourg Government, not his current position. |
You asked, what's it's to do with the EU, well I told you, if you don't think Juncker has anything to do with tax avoidance in the EU, that's your problem. | | | |
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| Manchester United Tax Avoidance on 16:27 - Nov 16 with 4043 views | MrSheen |
£42bn collected in corporation tax last year. |  | | |
| Manchester United Tax Avoidance on 16:30 - Nov 16 with 4034 views | THEBUSH |
| Manchester United Tax Avoidance on 14:49 - Nov 16 by Lofthope |
I do marvel at how people spout on about tax when they know very little about it.
For a start, tax avoidance is legal, buying duty free booze when abroad is tax avoidance FFS!! Anyone who has done that is, arguably, a tax dodger.
Tax evasion is illegal. Now Gordon Brown spent his career blurring the distinction for political purposes and to be fair, as a consequence it is less clear even to experts these days.
However, artificiality in tax schemes has been dying since a series of high profile court cases in the early 1980s. Furthermore we now have a general anti-avoidance rule in statute. Artificial tax planning has effectively been dead for a few years despite the fact that some players still try and promote schemes. They usually come a cropper in court too.
The most obscene scheme I've seen in recent times is K2, the one Jimmy Carr is/was in. I bet he hasn't repaid his artificial loans!!!
One other thing that you may not realise, is that HMRC have all the laws they need to attack Starbucks' 'Transfer Pricing' yet appear to have failed to do so. Either Starbucks are not cheating or it is an HMRC failure, but it has been spun against Starbucks.
Never believe the press......BTW I rarely meet a journalist who understands tax either!
For a start, you may read about a case currently in the courts, Ingenious Film Partners 2 v HMRC. This investment/scheme (depending on your view) was a 2005 scheme but if you read the Sunday Times you'd be forgiven for thinking it's contemporary. so, in 10 years time when HMRC finally (and rightly) take Jimmy Carr's K2 scheme to court will he care?
But of course, if you believe that 'radical Soap Box' dot com is an authority on the technicalities of tax and has no political agenda, who am I to challenge your dogma? |
Sounds like you're the one, spouting on  | | | |
| Manchester United Tax Avoidance on 17:01 - Nov 16 with 3992 views | pomanjou |
Bush,
If you pay tax on your state pension you are an exception. You probably have other private pensions (which You will have achieved thru tax deductible investment, just like me) or other income from insurance (also tax deductible investment, just like me) which takes you over a threshold.
My overall income last year was taxed at 3.2% mainly thru using accumulated ISAs and 5% capital drawdowns to minimise the average rate. All completely ligit.
Recent figures show that the top 3,000 earner taxpayers contributed more than the bottom nine million.
So peeps may minimise what tax they pay but it's still a hell of a lot.
Nonetheless the eu gravy train is a nonsense which is rotten to and at the core and the sooner we get off it the better. We should be free to operate in commerce without fear or hindrance wherever we wish and can? |  |
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| Manchester United Tax Avoidance on 18:27 - Nov 16 with 3913 views | AgedR |
Went to a presentation by a chap who works for a hedge fund recently.
His view was that corporation tax is basically never going to provide the redistribution of wealth that it us designed for and that the only way to achieve this is to increase the minimum wage.
Interesting, or at least I thought so. |  |
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| Manchester United Tax Avoidance on 18:54 - Nov 16 with 3882 views | derbyhoop |
| Manchester United Tax Avoidance on 16:14 - Nov 16 by THEBUSH |
You asked, what's it's to do with the EU, well I told you, if you don't think Juncker has anything to do with tax avoidance in the EU, that's your problem. |
So Luxembourg has low corporation tax rates.
So does the Republic of Ireland, which is why companies like Yahoo, Google and the big pharmaceutical companies do so much "business " through those countries.
It may not be popular but it is perfectly legal tax planning.
And before we all get on our high horse, the Corporation Tax Rate in the UK (for smaller business) is only 20% - well below international averages. Ask yourself why? |  |
| "Travel is fatal to prejudice, bigotry and narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things cannot be acquired by vegetating in one little corner of the Earth all one's lifetime." (Mark Twain)
Find me on twitter @derbyhoop and now on Bluesky |
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