How can I reduce my tax bill?

Kentish_Dave

Until I wandered off overseas I was paying about 46% overall.

Your rate suggests a very low amount in absolute terms, is it really worth scrabbling around over the little bit that you do pay?

penners324

The people and companies you refer to above are not avoiding their legal tax obligations either.

Amazon plays the international tax system to it's best advantage. That's not illegal.

The celebrities you mention were involved in legal tax avoidance schemes. HMRC has managed to get a number of these schemes to be reclassified so they're no longer legal tax avoidance schemes.

MisterMotivated

TUVOK wrote: »

cash under the bed is the only way

Well yes, the easiest way to pay less/no tax would be to make less/no money.

Perhaps you could lobby the government to scrap income tax for the over 75s?

nick74

An old boss of mine used to tell his clients that he had a totally legal, guaranteed way of reducing their income tax liability to zero. He said that he would prepare their draft accounts, and then he would present them an invoice for accountancy fees exactly equal to their taxable profit. He used to enjoy watching their faces as the implications of that sunk in.
'But that means I'm giving you all of my profit!'
'Yes, but just think of all the tax that I'll be paying instead of you....'

lincroft1710

MisterMotivated wrote: »

Perhaps you could lobby the government to scrap income tax for the over 75s?

And at the same time ask them to re-instate free TV licences for over 75s!!!