Paradise Papers

Eric_the_half_a_bee

DiggerUK wrote: »

Tax avoidance by royal assent

Has it been demonstrated that the Queen has avoided any tax at all? And no, just because you invest in an offshore fund, that doesn't mean you end up avoiding tax.

DiggerUK

Eric_the_half_a_bee wrote: »

Has it been demonstrated that the Queen has avoided any tax at all? And no, just because you invest in an offshore fund, that doesn't mean you end up avoiding tax.

How can any sane person not realise that the secrecy of these schemes conceals how the wealth was amassed, what it is being used for, or how much tax has been paid, if any.
All her taxes are paid on a voluntary basis.....but how much we can’t be told. We have only got to know about this because investigative journalism still has a heartbeat.

You’ll be telling us next that medical science can’t figure out why butter won’t melt in your mouth..._

Nick_C

leslieknope wrote: »

am i the only person in the world who would not avoid/evade tax, even if i could? maybe that's why i'm not rich... i think tax is something every person should pay to support and live in the country they're in... it wouldn't cross my mind not to pay it.

The people who avoid paying tax very often pay far more tax than people who don't look for ways to minimise their payments.

The top one per cent pay 27% of all income tax collected.

The top 10 per cent pay 27% of all taxes collected.

economic

leslieknope wrote: »

am i the only person in the world who would not avoid/evade tax, even if i could? maybe that's why i'm not rich... i think tax is something every person should pay to support and live in the country they're in... it wouldn't cross my mind not to pay it.

complete nonsense. why would anyone want to do that? lets say people are so "nice" like you are. how do you know the money is being spent wisely? you dont. why dont you give all your income to the IR minus the amount you need to live?

i dont evade tax but i do try to avoid it by making full use of ISAs, pensions, etc.

antrobus

Moby wrote: »

...I don't have the access to a rich accountant to find me a nice little tax avoiding vehicle.

I am not rich. At least I don't think so.

But as an accountant, I am happy to give you this advice for free. If you are looking for "a nice little tax avoiding vehicles"; ISAs and pensions spring to mind.:)

Tromking

MobileSaver wrote: »

Seriously?!? Do you realise how ridiculous and ignorant your statement is on so many levels?

I know such behaviour is lauded on these boards, but in the court of public opinion it won’t go down to well. An uncomfortable fact for the Queen and her advisors.

leslieknope

that's the whole point of having MPs, councillors, budget discussions etc.... to hold the people spending your tax responsible. if they're not spending it wisely (and am not going to argue that point right now) then you hold them accountable.

http://www.bbc.co.uk/news/uk-41886607

the fact something like this is completely legal is beyond ridiculous. but i'll take my niceness elsewhere.

Tromking

leslieknope wrote: »

that's the whole point of having MPs, councillors, budget discussions etc.... to hold the people spending your tax responsible. if they're not spending it wisely (and am not going to argue that point right now) then you hold them accountable.

http://www.bbc.co.uk/news/uk-41886607

the fact something like this is completely legal is beyond ridiculous. but i'll take my niceness elsewhere.

Most people are like you and the thought of trying to get out of paying the morally appropriate amount of tax would be an anathema to them.
Good on ya!

antrobus

DiggerUK wrote: »

How can any sane person not realise that the secrecy of these schemes conceals how the wealth was amassed, what it is being used for, or how much tax has been paid, if any....

The accounts for the Crown Estate for 2017 can be found here. Be warned there are 120 pages.
https://www.thecrownestate.co.uk/media/1097892/integrated-annual-report-2016-17.pdf

I don't know if previous accounts made any mention of these 'offshore' investments. Possibly not. The Crown Estate has 13bn worth of net assets, 10m is 'not material'

DiggerUK wrote: »

..
or how much tax has been paid, if any....

Of course not. HMRC won't make public how much tax you pay either.

Her Majesty’s Revenue and Customs (HMRC) is responsible for collecting tax under the Memorandum of Understanding. The arrangements for providing information under these voluntary arrangements.and making payments follow normal self assessment rules.

As the Memorandum of Understanding makes clear, The Queen and The Prince of Wales are entitled to the same privacy and confidentiality in relation to their tax affairs as any other taxpayer. Accordingly, the Government will not publish any information relating to monies paid.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/208633/mou_royal_taxation.pdf

DiggerUK wrote: »

...
All her taxes are paid on a voluntary basis.....but how much we can’t be told. We have only got to know about this because investigative journalism still has a heartbeat.

No, we have known that since 1992. It is a matter of public record. Just because you're 25 years behind the times is no reason to get upset.:)

DiggerUK wrote: »

...
You’ll be telling us next that medical science can’t figure out why butter won’t melt in your mouth..._

Well I'm telling you that there is no suggestion that Brenda has avoided any tax.

westernpromise

leslieknope wrote: »

am i the only person in the world who would not avoid/evade tax, even if i could? maybe that's why i'm not rich... i think tax is something every person should pay to support and live in the country they're in... it wouldn't cross my mind not to pay it.

Probably because you pay so little you don't notice it.

Personally I think there should be a lifetime cap on PAYE, whereby once you've paid X, you pay nothing more for the rest of your life because you've made your contribution.