Is it possible to become a millionaire (or near to) through investments?

Pincher

grey_gym_sock wrote: »

set up your own charity.

Just in time to catch the lynch mob sharpening their scythes, against tax evasion, charity harassing the vulnerable, and multinational abuse of tax jurisdiction.


I don't like spikes up my bottom, thank you very much.

bigadaj

Aretnap wrote: »

Reginald Dwight?

No, it's either Lenny Henry or ainsley harriott.

Glen_Clark

bowlhead99 wrote: »

Broadly, (tax avoidance/evasion) is harder to do in 2016 with a whole swathe of regulations now that didn't exist in 2003,

:rotfl:thats always the official line of course.
When did politicians not say they were clamping down on tax avoidance/evasion (same thing but one is legalised one isn't) ?
When did politicians ever say they were leaving a few loopholes for themselves?
Nevertheless, only a few weeks ago the tax avoidance guy on the hidden camera stated (the reporter) could decide how much tax he wanted to pay, then use the same scam as past encumbents of number 10.
http://www.theguardian.com/commentisfree/2016/feb/07/hmrc-tax-avoidance-dispatches-greg-wise-channel-4

BananaRepublic

bowlhead99 wrote: »

Broadly, this is harder to do in 2016 with a whole swathe of regulations now that didn't exist in 2003, though of course not impossible.

Just setup a company overseas in a low tax region that owns a brand, then pay royalties to that company for use of the licence, and make sure the royalties are equal to your profits, that way you'll end up paying minimal tax. That kind of scheme works well enough for Apple, and Gurgle, as well as a host of other multinationals.

Oh, you mean the small player? Yes, an IT contractor who works on an insecure 3 month contract, with no sick pay, no pension, must in general pay themselves a full salary and cannot keep some back for the future, or pay dividends. But a large overseas bodyshop that wants to supply IT staff for UK companies can pay its directors big fat dividend cheques. Thank goodness HMRC allow those nice foreign multinationals to 'manage' their tax, but catches those nasty UK workers.

In truth the tax laws penalise the small time player and big players work around them.

Aretnap

Glen_Clark wrote: »

:rotfl:thats always the official line of course.
When did politicians not say they were clamping down on tax avoidance/evasion (same thing but one is legalised one isn't) ?
When did politicians ever say they were leaving a few loopholes for themselves?
Nevertheless, only a few weeks ago the tax avoidance guy on the hidden camera stated (the reporter) could decide how much tax he wanted to pay, then use the same scam as past encumbents of number 10.
http://www.theguardian.com/commentisfree/2016/feb/07/hmrc-tax-avoidance-dispatches-greg-wise-channel-4

Channel 4 did a rather good job of showing that people who sell you dodgy tax avoidance schemes will tell you all sorts of things about how wonderfully effective they are.

I seem to recall that they did a rather less good job of showing whether or not the schemes the salesmen are selling actually work, or whether they'll stand up to a future HMRC investigation.

I mean, I have no particular knowledge of whether the schemes on offer will mean you get to keep your ill gotten gains entirely tax free or whether they'll just land you with a massive punitive tax bill a few years down the line, but if you believe it's the former just because the salesman said so then I have a great airport parking investment which you might be interested in.

Glen_Clark

BananaRepublic wrote: »

Just setup a company overseas in a low tax region that owns a brand, then pay royalties to that company for use of the licence, and make sure the royalties are equal to your profits, that way you'll end up paying minimal tax. That kind of scheme works well enough for Apple, and Gurgle, as well as a host of other multinationals.

Oh, you mean the small player? Yes, an IT contractor who works on an insecure 3 month contract, with no sick pay, no pension, must in general pay themselves a full salary and cannot keep some back for the future, or pay dividends. But a large overseas bodyshop that wants to supply IT staff for UK companies can pay its directors big fat dividend cheques. Thank goodness HMRC allow those nice foreign multinationals to 'manage' their tax, but catches those nasty UK workers.

In truth the tax laws penalise the small time player and big players work around them.

As they say, The law is open to everyone, just like the doors of the Grand Hotel.
I think that means you can pay a specialist £800 an hour to set up a scheme to avoid paying tax. Problem is if you only have a few £thousand the cost isn't justified. Wheras if you have a few £million, it is.

Glen_Clark

Aretnap wrote: »

Channel 4 did a rather good job of showing that people who sell you dodgy tax avoidance schemes will tell you all sorts of things about how wonderfully effective they are.

I seem to recall that they did a rather less good job of showing whether or not the schemes the salesmen are selling actually work, or whether they'll stand up to a future HMRC investigation.

I mean, I have no particular knowledge of whether the schemes on offer will mean you get to keep your ill gotten gains entirely tax free or whether they'll just land you with a massive punitive tax bill a few years down the line, but if you believe it's the former just because the salesman said so then I have a great airport parking investment which you might be interested in.

Doesn't the link show whether it works?
All the BBC staff, Jimmy Carr etc, having their salaries paid to offshore shell companies? I don't recall him getting prosecuted?

BananaRepublic

Glen_Clark wrote: »

As they say, The law is open to everyone, just like the doors of the Grand Hotel.

We have the best legal system money can buy.

Glen_Clark

The very rich did pay a bit of tax when we had a Labour Government in the 1960's and 1970's.
Sir Geoffrey Howe started the change when he cut income tax and increased stealth taxes like VAT, shifting the tax burden from the rich to the poor. He continued to suck up to Thatcher until she tired of him. She apparently preferred to entertain her close friend the rapist and pedophile Sir Jimmy Savile OBE KCSG at Chequers, after securing his knighthood for him, whilst her Home Secretary Sir Leon Brittain was losing the dossier about pedophilia in the Government.
When Thatcher took away what he thought was his 'entitlements' to certain perks of his job, Sir Geoffrey Howe turned against her and set in motion a chain of events which led to her being ousted from Downing Street in tears (I didn't see the 'Iron Lady' cry when they were bringing our lads back from the Falklands in bodybags, but she cried when she lost her job.) But the tax loopholes had been set, and her home was in the name of an offshore company. But I don't know if she was one of the past incumbents of number 10 referred to by the tax avoiders in the Despatches TV programme?

BananaRepublic

Glen_Clark wrote: »

The very rich did pay a bit of tax when we had a Labour Government in the 1960's and 1970's.
Sir Geoffrey Howe started the change when he cut income tax and increased stealth taxes like VAT, shifting the tax burden from the rich to the poor. He continued to suck up to Thatcher until she tired of him. She apparently preferred to entertain her close friend the rapist and pedophile Sir Jimmy Savile OBE KCSG at Chequers, after securing his knighthood for him, whilst her Home Secretary Sir Leon Brittain was losing the dossier about pedophilia in the Government.
When Thatcher took away what he thought was his 'entitlements' to certain perks of his job, Sir Geoffrey Howe turned against her and set in motion a chain of events which led to her being ousted from Downing Street in tears (I didn't see the 'Iron Lady' cry when they were bringing our lads back from the Falklands in bodybags, but she cried when she lost her job.) But the tax loopholes had been set, and her home was in the name of an offshore company. But I don't know if she was one of the past incumbents of number 10 referred to by the tax avoiders in the Despatches TV programme?

You do like your leftie rants, and denigrating politicians don't you? And you are not on good speaking terms with the facts. What is the cause of your resentment?