Would you avoid tax if you could?

in Money Saving Polls
53 replies 6.1K views
Poll started 22 June 2012, click here to vote

Comedian Jimmy Carr has been lambasted by the Prime Minister for avoiding tax. Where do you draw the line?

If the opportunity arose for you, how far would you go?

Answer the FIRST in the list you’d do.


· Tax evasion:I’d break the law to minimise tax (eg, cash-in-hand) as long as I’m not caught.

· Tax loopholes: I’d push it as far as possible, as long as it’s legal, to pay the absolute minimum.

· Tax avoidance: I’d do what I could to reduce tax, without taking the mickey too much.

· Tax planning only:I’d only use things like ISAs and pensions, which the Govt encourages.
«13456

Replies

  • leachydleachyd Forumite
    851 Posts
    Well it doesn't surprise me to see that most of us would legally exploit loopholes in order to retain as much of our earnings as possible..I really think this whole debate is fueled primarily by those jealous of others good fortune and hard work.
  • Not jealous of other's good fortune and hard work at all Leachyd. But I have to find some way of paying for my daughter's university education and at the current rate and financial climate I won't have started paying my own student loans off before the eldest starts uni. Why should legal loopholes, off shore accounts and financial jiggerypokery be fine and fair for the rich and not for the rest?
  • HappyMJHappyMJ Forumite
    21.1K Posts
    Forumite
    If the polticians can claim expenses for something then I'll claim it as an expense too.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Lifes_Grand_PlanLifes_Grand_Plan Forumite
    1.1K Posts
    Part of the Furniture 500 Posts Photogenic
    Forumite
    At the end of the day, if its legal, why the hell wouldn't anyone do it?

    I can only see the "morality" argument, but I find it more moral to look after my family and provide as best I can, than I do to pay taxes to the mass of waste that is the government.

    I don't get how Cameron can criticise Carr for doing this, he has the power to close the loopholes but doesn't....
    A big believer in karma, you get what you give :A

    If you find my posts useful, "pay it forward" and help someone else out, that's how places like MSE can be so successful.
  • leachydleachyd Forumite
    851 Posts
    icklepeach wrote: »
    Not jealous of other's good fortune and hard work at all Leachyd. But I have to find some way of paying for my daughter's university education and at the current rate and financial climate I won't have started paying my own student loans off before the eldest starts uni. Why should legal loopholes, off shore accounts and financial jiggerypokery be fine and fair for the rich and not for the rest?

    They are fine and fair for the rest, but most of use have no use for them (just as the wealthy have no use for benefits and tax credits) as we don't have the income or employment position to make them worthwhile.

    The fact is, they are legal, there's no breaking of the law, and if the public and governments really had a problem with them there would be lobbying and action in parliament to close these "loopholes" off. 62% of respondents so far would use the "loopholes" though, so i guess the public think they are fair.

    Granted university education inst cheap, but there are other ways to be competitive in the labour market, so its not essential either. Regardless of that, I'm not sure why Jimmy Carr should be paying for your daughter to gain a competitive edge at University. I struggle to pay my council tax, but I dont ask Jimmy and Philip green to chip in.
  • Tax avoidance - I don't see the problem with trying to pay the lowest amount of tax possible.
  • I love paying Tax, letting MPs get their moat cleaned, adding to the wine cellar and subsidising the meals in House of Commons

    lwr0q.png

    Can't think why I'd want to pay less :mad:
  • blisteringblueblisteringblue Forumite
    1.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    I don't get how Cameron can criticise Carr for doing this, he has the power to close the loopholes but doesn't....

    And that is because too many Tory supporters also use these very same loopholes.

    Cameron bang out of order for his name and shame.

    Anyway it's backfired big style and Carr will have enough new material to more than make the money back :rotfl:

    It is up to the idiots in charge to close them, not ask people to not use them on moral grounds. Its farcical really!
  • I can only see the "morality" argument, but I find it more moral to look after my family and provide as best I can, than I do to pay taxes to the mass of waste that is the government.
    This is the same government that provides things like health care, education, refuse collection, law and order.

    Why is it moral for you not to contribute your fair share for those things and for the rest of us to do so instead?
  • Deedee9Deedee9 Forumite
    29 Posts
    Part of the Furniture 10 Posts
    Forumite
    Why would you not try and avoid paying taxes - its part of British culture - go back in time and see what "window" tax did to a lot of houses - that was a loophole too!!:D:D

    I don't care if you are rich or poor, as a money saver I want to keep as much of my income for me to spend as I see fit, so I would always try and find a loophole - I just find the envy and greed brigade who seem to think its only rich people that avoid tax paying - I am sure most people have avoided paying a tax at some point in their life...;)
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