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By (user no longer on site) OP
over a year ago
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"Surprised this hasn't been talked about on here yet.
How big will the Pandora Papers story be? Will it result in any change whatsoever?it’s shocking but know it won’t change sadly "
I wonder which public figure will come out of it looking worst. It's like a roulette wheel spinning. No way to know where the ball will land. |
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By *bernathCouple
over a year ago
Gloucestershire |
Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also! |
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By (user no longer on site)
over a year ago
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"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!"
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning. |
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By *bernathCouple
over a year ago
Gloucestershire |
"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning. "
Not all, which ones? I am sure there are many people in here that would be curious to know. |
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By *lex46TV/TS
over a year ago
Near Wells |
"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning. "
Or very good accountants. |
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By (user no longer on site)
over a year ago
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"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know."
Trusts, Limited companies. |
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By *bernathCouple
over a year ago
Gloucestershire |
"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know.
Trusts, Limited companies. "
So you are saying that all people should set themselves up as limited companies? With their wages being paid into them, in which they pay themselves as dividends, thereby paying corporation tax which is lower than income tax? |
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By (user no longer on site)
over a year ago
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"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know.
Trusts, Limited companies.
So you are saying that all people should set themselves up as limited companies? With their wages being paid into them, in which they pay themselves as dividends, thereby paying corporation tax which is lower than income tax?"
Nope. I said that some of the loopholes are accessible without being a millionaire/billionaire. I’m indifferent as to whether anyone elects to make use of them. |
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By *bernathCouple
over a year ago
Gloucestershire |
"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know.
Trusts, Limited companies.
So you are saying that all people should set themselves up as limited companies? With their wages being paid into them, in which they pay themselves as dividends, thereby paying corporation tax which is lower than income tax?
Nope. I said that some of the loopholes are accessible without being a millionaire/billionaire. I’m indifferent as to whether anyone elects to make use of them. "
Which is the problem, what appears to be an open secret among the rich is clearly inaccessible to the rest of the UK population. If the UK population were given the direction only. |
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By (user no longer on site)
over a year ago
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Until the laws change then all we can do is make the most of it as best we can. My point is that all the statues and case law that the ‘fancy accountants’ use to help the rich is available for anyone with an internet connection and a pair of functional eyes. Granted it might take a lot of investment in time and may not be worthwhile for many. But that’s another matter.
Not saying it is moral. But until they close the loopholes - which I think they should - then what ya gonna fo?
they did close a few and have seen tax liability go up significantly as a result - but roll and adapt. No point moaning about it.
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By *ackal1Couple
over a year ago
Manchester |
"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know.
Trusts, Limited companies. "
If the revenue assume you are an employee you will only have the option of PAYE. The IR35 has completely closed the offshore option for the lower income workers. You have to prove multiple customers etc.
The offshore system is very easy to use if you have a reasonable size business or a varied portfolio of interests and income.
The U.K. government can easily catch 65% of global avoidance as we control 65% of that avoidance through London. A lot of the global dominions used to hide shell companies are U.K. controlled.
Bexit was to maintain the status quo.
It wasn’t about the £350m on the bus as that was small fry for the masses to worry about. No, it was about the very rich keeping hold of their £9 Billion a week of legal tax avoidance. The EU wanted to stop the avoidance and are trying. Sunak says he supports clamping down on schemes but has managed through his lobbying to exclude financial companies from the rules. The same companies who manage the £456billion in avoidance.. Just bullshit. His own very rich wife used Mauritius as a tax haven for a recent deal. To avoid tax in India.
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By (user no longer on site)
over a year ago
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"Evidence that the rich have the means to do what ordinary people cannot. Instead of people being angry about them avoiding tax, create loopholes that the rest of us can exploit to pay less tax.
That is the only solution, that will level the playing field. Fine you get richer, as long as we get richer also!
People can choose to watch Love Island and remain ignorant of the system or educate themselves. Not all the ‘loopholes’ require very deep pockets, but they do require technical knowledge and planning.
Not all, which ones? I am sure there are many people in here that would be curious to know.
Trusts, Limited companies.
So you are saying that all people should set themselves up as limited companies? With their wages being paid into them, in which they pay themselves as dividends, thereby paying corporation tax which is lower than income tax?"
Thus being ineligible for furlough or SEISS. But those have ended....so go for it
...? |
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"Surprised this hasn't been talked about on here yet.
How big will the Pandora Papers story be? Will it result in any change whatsoever?"
There's not a lot of point to leaks that tell us about a few ultra rich people who keep all their money hidden offshore. We already all know that happens and these papers will change nothing.
On the other hand a leak that listed all the bank account numbers and passwords would be rather good. Having the top 1% wake up one morning to find that they had joined the bottom 99% would be pure karma. I wonder how long Bezos, Zuckerberg, Trump etc would last living in the Baltimore projects? |
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By *bernathCouple
over a year ago
Gloucestershire |
"Until the laws change then all we can do is make the most of it as best we can. My point is that all the statues and case law that the ‘fancy accountants’ use to help the rich is available for anyone with an internet connection and a pair of functional eyes. Granted it might take a lot of investment in time and may not be worthwhile for many. But that’s another matter.
Not saying it is moral. But until they close the loopholes - which I think they should - then what ya gonna fo?
they did close a few and have seen tax liability go up significantly as a result - but roll and adapt. No point moaning about it.
"
I think they should too, but it isn’t going to happen, because its only frowned upon. Therefore, the real levelling up would be giving the tools for ordinary citizens to take advantage of avoidance loopholes. Can stop it, just do it. |
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The pandora papers show how much buisness has changed.
In the old days a buisness man had a briefcase and bowler hat .
To day buisness men have a mask and two pistols shouting stand and deliver.
Coruption is rife.
Eg rolls royce .payoffs
Volkswagon emissions tampering.
Boeing making planes that drop out of the sky.
Anything to make an extra buck these days and dam the consequences if folks are hurt |
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By *bernathCouple
over a year ago
Gloucestershire |
"The pandora papers show how much buisness has changed.
In the old days a buisness man had a briefcase and bowler hat .
To day buisness men have a mask and two pistols shouting stand and deliver.
Coruption is rife.
Eg rolls royce .payoffs
Volkswagon emissions tampering.
Boeing making planes that drop out of the sky.
Anything to make an extra buck these days and dam the consequences if folks are hurt"
It has always been around, technology makes it easier to uncover that’s all. What couldn’t be done over 30 years ago can be done now. |
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Its basically an open secret that some off the wealthy or those in power have time in time out again found ways to reduce or avoid paying tax in general..
Or have their off shore accounts safely tucked away where their home nations cannot touch them or take a piece..
Only difference is now there is a leaked list off individuals from different industries, roles even those who are in part off the political spectrum being named and shamed..
How it will unfold will be determined over time but more or less it will probably sooner or later die down/be swept under the rug until another major scandal erupts and it comes to light again? |
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